IG Group Enters New Phase in Crypto Growth with Independent Reserve Acquisition

TL;DR Breakdown

IG Group announces purchase of 70% stake in Australian crypto exchange Independent Reserve
The purchase is set for 109.6 million Australian Dollars with additional options based on performance milestones.
The purchase extends IG Group’s crypto influence into the Asia-Pacific region.

UK-based IG Group announced the acquisition of a majority stake in Australian cryptocurrency exchange Independent Reserve for $72.3 million. The current leadership at Independent Reserve will remain with the exchange and hold the remaining 30% stake. Independent Reserve acquisition would enable IG to benefit from the leadership’s expertise and experience in the region.

Independent Reserve Acquisition: Key transaction terms

While the IG Group is currently acquiring a 70% stake, the group will have the option to buy the remaining 30% based on future performance milestones. The value of the 30% stake acquisition if all performance metrics are met will be capped at A$160.5 million. As such, the total cost of the acquisition can rise to A$285.1 million ($188 million) “in the event of strong outperformance versus the base case business plan in FY27 and FY28.”

The Independent Reserve acquisition is currently subject to regulatory approvals in Singapore and Australia and will be finalized in early 2026.

IG’s Strategic dive into APAC crypto markets

Independent Reserve offers trading of 34 digital assets in multiple fiat currencies and has permissions to operate in Australia and Singapore, two key markets in the Asia-Pacific (APAC) region. As such, the Independent Reserve acquisition provides IG an entry in the crypto sphere of the region, as previously it only provided forex and Contracts for Difference (CFD) trading options. Moreover, according to the Group’s released statement, it can allow the Group to expand into the Middle Eastern markets.

This development follows the Group’s recent entry in the US and UK cryptocurrency markets. The company started providing spot trading to its customers in the UK in May this year, while it operates as tastytrade, a US-based brokerage/trading platform that it acquired in 2021. Tastytrade offers 23 coins and stablecoin-enabled account funding for customers across various blockchains.

IG Group took note of the incredible growth shown by Independent Reserve as the exchange saw an increase of 88% in its revenue compared to the last fiscal year. Moreover, the exchange observed a 70 compound annual growth rate across the last two years. The exchange boasted 11,600 monthly active customers in the most recent fiscal year, up 60% from last year.

IG Group believes the Independent Reserve acquisition would enhance the company’s earnings starting in the fiscal year 2027 (FY27) and generate returns exceeding its weighted average cost of capital within three to five years (FY29–31).