IG Group Holdings plc, a UK-based online trading and financial services company, announced that it has purchased a majority stake in Australian cryptocurrency exchange Independent Reserve.Â
The market value of the deal is AUD $109.6 million (approximately US$72.4 million) in return for a 70% stake, which IG Group can increase to 100% depending on the future performance of Independent Reserve.
The overall worth of the deal will be AUD$178 million (US$117.6 million) and is expected to be finalized in early 2026, depending on regulatory approval.
Financial Strength of Independent Reserve
Independent Reserve has displayed exceptional financial growth in recent months, which would enhance its attractiveness with IG Group.
The exchange made 35.3 million Australian dollars ($23.1 million) in revenue for the financial year ending June 30th, an increase of 88% from the previous year, while reported EBITDA was 9.9 million Australian dollars($6.5 million).
Independent Reserve currently trades across 34 cryptocurrencies and several currencies. Also, it has been a fully licensed exchange in both Australia and Singapore.
Given the company’s financials and regulatory status, Independent Reserve provides IG with a solid basis to enter new markets and scale its crypto operations.
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Deal Structure and Growth Outlook
The acquisition deal states that IG will pay AUD$109.6 million($72.4 million) upfront for the 70% stake, excluding AUD$8.4 million($5.5 million) of its share of surplus cash.Â
An extra AUD$15 million($9.9 million) could also be paid, depending on the performance of Independent Reserve in fiscal 2026, which could increase total consideration to AUD$124.6 million($82.3 million).Â
IG also has an option to acquire the remaining 30% stake, valued based on the performance of the exchange in fiscal 2027 and 2028.
IG also expects the acquisition to be earnings-accretive in its first full financial year following closing and for the return on invested capital to exceed its weighted average cost of capital within three to five years.
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Strategic Expansion into Key Global Markets
As stated by Matt Macklin, the Managing Director of Asia Pacific & Middle East at IG, the takeover exemplifies IG’s purposeful progression of its crypto strategy in fast-growing areas.
The regulatory frameworks and proven technology of Independent Reserve provide IG with immediate access to the Australian and Singaporean markets as well as a launch pad for expanding into larger Asia Pacific and Middle Eastern markets.
This is aligned with IG’s long-term aim to diversify its offering and provide more services in digital assets, next to its traditional financial services portfolio.
Broader Trend of Acquisitions in the Crypto Sector
IG Group’s action reflects a recent wave of consolidation and strategic acquisitions in the crypto and digital asset sector.
On July 2nd, Coinbase acquired the token management platform Liquifi, its fourth acquisition of 2025, according to UnoCrypto.Â
Liquifi, which has links to Dragonfly and other well-known investors like Katie Haun, is expected to further Coinbase’s ambition of providing an institutional one-stop shop.
Most recently, on August 11th, we reported that the video platform Rumble announced its all-stock acquisition of Northern Data, an AI company backed by Tether, for $1.17 billion.
This deal combines GPU and data center infrastructure with Rumble’s video and cloud services, expanding the overlap between traditional tech and crypto.
IG’s recent acquisition aligns closely with firms’ aggressive expansions into digital asset infrastructure, enabling them to remain competitive.
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