British Trading Firm IG Group Acquires Aussie Crypto Exchange for $117M, Sets APAC Presence
UK-based on-line buying and selling agency IG Group has acquired Australian crypto change Independent Reserve in a deal price A$178 million ($117 million) on Friday.
Per a Reuters report, the acquisition marks IG’s enlargement into the APAC crypto market, enhancing its operations alongside the UK.
Independent Reserve, a distinguished cryptocurrency change, has a powerful presence in each Australia and Singapore. The platform already affords buying and selling in 34 digital belongings, serving retail and institutional traders.
Further, the change posted A$35.3 million income within the 12 months to June, almost double the earlier yr.
The acquisition deal follows an intensive evaluation of the crypto change trade, IG Group mentioned in an official statement.
“This acquisition marks an necessary step in IG’s crypto technique in a key area,” Matt Macklin, IG’s Managing Director, famous.
“Independent Reserve is one in all Australia’s largest and fastest-growing digital asset exchanges with established regulatory foundations, confirmed know-how and powerful management. I’m delighted that the Independent Reserve crew will be a part of IG as they embark on their subsequent section of progress.”
IG to Initially Acquire 70% of Independent Reserve
The firm famous that it’s going to initially purchase 70% of the Aussie-based firm, with the choice to purchase the remaining 30% primarily based on the efficiency within the monetary yr 2027 and 2028.
“Completion is topic to regulatory approvals from MAS in Singapore and FIRB in Australia and at present anticipated in early 2026,” the discharge learn.
Further, the deal is anticipated to be accretive to money earnings per share within the first full monetary yr post-closing.
In June, IG Group turned the primary UK-listed firm to let UK retail investors trade BTC, ETH, XRP, and 35 different tokens. Under the brand new providing, the corporate’s retail purchasers will have the ability to commerce 38 cryptocurrencies through a partnership with crypto platform, Uphold.
Besides, efficient 2026, the UK would require crypto companies to collect and report detailed customer information on each commerce and switch, as a part of a sweeping effort to strengthen oversight within the digital asset sector.
The publish British Trading Firm IG Group Acquires Aussie Crypto Exchange for $117M, Sets APAC Presence appeared first on Cryptonews.
