IG Group closes $117.41M acquisition of Australian crypto exchange

On Friday, the UK trading platform IG Group expanded its footprint in the Asia-Pacific region by acquiring Australian digital asset exchange Independent Reserve for AUD178 million ($117.41 million). The Sydney-based company offers multi-currency trading in 34 cryptocurrencies in Australia and Singapore.

IG maintained that Independent Reserve’s management and staff are expected to remain with the company, with a collective 30% shareholding at completion. The group said it will retain the Australian exchange’s brand and incorporate it into IG’s trading platforms in Australia and Singapore.

IG holds 70% of Independent Reserve

The British company revealed that it had purchased an initial 70% of the Independent Reserve for AUD109.6 million. The amount will exclude an expected share of acquired surplus cash of AUD8.4 million. 

The deal also includes an additional AUD15 million based on the firm’s financial 2026 performance. It will lead to a collective 70% ownership of AUD124.6 million.

The UK trading company also has a call option to buy the remaining stake based on Independent Reserve’s performance in the financial years 2027 and 2028. IG said the remaining 30% stake amounts to AUD160.5 million, bringing the total payment of the entire Australian company below AUD285.1 million.

IG Group expects the deal to include purchases in cash, earnings per share, accretive after two years, with a return on invested capital above IG’s weighted average cost of capital between financial year 2029 and 2030.

IG said the deal will close in early 2026 once approved by Australian and Singapore regulators. Independent Reserve CEO Adrian Przelozny mentioned that the deal gives the company a bigger platform to grow while maintaining its secure, regulated trading goal. IG’s shares are down 2.44% to 1,075.80 pence on Friday.

The deal comes as Independent Reserve reported a surge of 88% in revenue to AUD35.5 million in the year ended June 30. The company also saw AUD9.9 million in earnings before interest, tax, depreciation, and amortization.

IG Group also announced Friday that it is revising its definitions of active customers and first traders. The company is also introducing funded customers to gauge their performance. 

According to the trading platform, the initiative aligns definitions across the Group and will show IG’s growth strategy. Starting from Q1 2026, active customers, first trades, and funded customers will be revealed every reporting period. 

Active customers represent users who opened or closed a position during a month or held a position at the end of the month. First trades include those who place their first trade in the reporting period, while funded customers are those with a cash balance or holding assets at the end of the month.

The Group also continues its share buyback programme, which launched on September 4. The company instructed Morgan Stanley & Co. International to lead a 125 million euro program until 30 January 2026. Purchased shares will be held in treasury and are subject to share price performance and other capital demands. IG set the maximum number of shares available for purchase under the initiative at 23,831,794.

IG Group launches crypto trading in the UK

IG Group introduced crypto trading in Britain in June, allowing traders to trade crypto, stocks, indices, ETFs, commodities, and FX on the platform. The company became the first UK-listed business to allow digital asset trading in the country.

The crypto trading initiative is backed by crypto asset firm Uphold, which is fully integrated across IG’s platform and IG Invest app. The digital asset firm will be in charge of executing all customer transactions and providing pricing data.

Uphold’s CEO, Simon McLoughlin, said the company wants to give people better access to virtual currencies so they can participate in the evolving financial world.

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