IG Group Buys Majority Stake in Australian Crypto Exchange Independent Reserve for $72M

Core Viewpoint - IG Group has acquired a majority stake in Independent Reserve to enhance its position in the Asia-Pacific cryptocurrency market, complementing its recent crypto initiatives in the U.K. and U.S. [1] Group 1: Acquisition Details - IG Group has acquired a 70% stake in Independent Reserve for 109.6 million Australian dollars ($72.4 million), with an option to purchase the remaining 30% based on future performance [1][2] - The total deal value is expected to reach 178 million Australian dollars ($117.6 million) and is subject to regulatory approvals, anticipated to close in early 2026 [2] Group 2: Company Background - Independent Reserve is one of Australia's oldest regulated cryptocurrency platforms, supporting trading in 34 cryptocurrencies across Australian and Singaporean markets [2] - The platform reported a revenue of $23.3 million for the fiscal year ending June 2025, reflecting an 88% year-over-year increase [4] Group 3: Strategic Implications - The acquisition provides Independent Reserve with a larger platform for growth while maintaining its focus on secure, regulated trading [3] - The deal fills a regional product gap for IG, granting immediate access to the Australian and Singaporean markets [3] - IG Group anticipates that the acquisition will be accretive to earnings starting in fiscal year 2027 [4]