IG Group to acquire Australian cryptocurrency exchange

(Sharecast News) - Online trading provider IG Group said on Friday that it had agreed to acquire Independent Reserve, one of Australia's largest cryptocurrency exchanges, in a deal worth up to AUD $285.1m (£139.0m), marking a major strategic push into the Asia-Pacific digital asset market.

IG will initially acquire 70% of Independent Reserve for AUD $109.6m (£53.4m), with a further AUD $15.0m (£7.3m) contingent on FY26 performance.

The FTSE 250-listed firm also holds a call option to purchase the remaining 30% stake based on FY27 and FY28 results. Completion was expected in early 2026, subject to regulatory approvals in Australia and Singapore.

IG said the deal complements its recent crypto rollout in the UK and US, including spot trading via Uphold and stablecoin funding through tastytrade. It also stated that the acquisition would be cash earnings per share accretive in FY27 and deliver returns above its cost of capital by FY29.

IG added that it will retain Independent Reserve's brand and integrate its product suite into its platforms, initially in Australia and Singapore. Independent Reserve generated revenue of AUD $35.3m (£17.7m) and underlying earnings of AUD $9.9m (£5.0m) in the 12 months ended 30 June, up 88% year-on-year.

As of 0900 BST, IG shares were down 1.45% at 1,090p.

Reporting by Iain Gilbert at Sharecast.com

IG