PANews reported on September 19th that online trading platform IG Group has acquired a majority stake in Australian cryptocurrency exchange Independent Reserve for US$72.4 million. This move aims to strengthen its position in the rapidly growing crypto market in the Asia-Pacific region and complement its recent crypto operations in the UK and the US. IG Group will initially acquire a 70% stake in Independent Reserve, with an option to acquire the remaining 30% in the future based on performance. The transaction is expected to close in early 2026 for a total of US$117.6 million.

Independent Reserve is one of Australia's earliest regulated crypto trading platforms, supporting 34 cryptocurrencies and covering the Australian and Singaporean markets. The platform achieved US$23.3 million in revenue for the fiscal year ending June 2025, an 88% year-on-year increase, with monthly active users increasing by 60%, and total assets under custody reaching US$1.12 billion. IG Group expects the acquisition to be accretive to its earnings starting in fiscal 2027.