IG Group’s $117M Bet on Independent Reserve Marks Bold Asia-Pacific Crypto Expansion
IG Group acquires Independent Reserve for $117M, strengthening its crypto foothold in Asia and the Middle East.
The UK-based trading powerhouse IG Group has taken a decisive step into the digital asset space with the acquisition of Australian cryptocurrency exchange Independent Reserve in a deal worth $117 million. The move underscores IG’s determination to expand across Asia and the Middle East—two regions rapidly becoming central hubs for regulated crypto services.
Founded in 2013, Independent Reserve has grown into one of the most respected exchanges in Australia and Singapore. It serves both retail investors and institutional clients while holding licenses in both jurisdictions. With more than 124,000 funded accounts and approximately $1.1 billion in assets under custody, the exchange has built a reputation for compliance and security—qualities IG views as essential for winning trust in new markets.
“This acquisition represents a critical pillar in our crypto strategy for high-growth regions,” said Matt Macklin, IG’s Managing Director for Asia-Pacific and MENA. According to him, the addition of Independent Reserve gives IG a stronger foothold in Asia-Pacific while also opening opportunities to extend services into the Middle East, where demand for regulated digital asset products is accelerating.
From a financial perspective, Independent Reserve has shown strong momentum. The company reported revenues of about $23 million in FY25, nearly doubling from the prior year, and achieved EBITDA of around $6.4 million, reflecting a 28.2% margin. Its base of roughly 116,000 monthly active customers provides consistent transaction activity, making it both profitable and positioned for growth.
IG expects the acquisition to boost cash earnings per share in the first full financial year after closing. Still, the deal must secure approval from regulators, including the Monetary Authority of Singapore (MAS) and Australia’s Foreign Investment Review Board (FIRB). These approvals remain critical as authorities continue to scrutinize the digital asset industry.
Leadership stability is another cornerstone of the agreement. Adrian Przelozny, CEO and co-founder of Independent Reserve, will remain in charge along with his management team. Employees will retain a 30% stake in the company, ensuring alignment with IG’s long-term strategy. “Joining forces with IG gives us the resources to accelerate growth while continuing to provide a secure, regulated trading environment,” said Przelozny.
The acquisition highlights the broader wave of consolidation in the crypto industry. As digital assets increasingly integrate with mainstream finance, established brokers and trading platforms are acquiring regulated exchanges to bridge the gap between traditional finance and crypto. For IG, best known for its global derivatives trading platform, this is not just a side venture—it signals that crypto is now a core component of its future business model.
