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UK-based global online trading giant IG Group has expanded its footprint in the Asia-Pacific region with the acquisition of Australian crypto exchange Independent Reserve for $178 million.
IG Group says the bolt-on acquisition builds on organic growth recently achieved by the company for its crypto offerings in the UK and US.
"This acquisition marks an important step in IG’s crypto strategy in a key region,” says Matt Macklin, IG’s managing director of the Asia Pacific and Middle East.
“Independent Reserve is one of Australia's largest and fastest-growing digital asset exchanges with strong regulatory foundations, proven technology and strong leadership.
“I am delighted that the Independent Reserve team will join IG as they embark on their next phase of growth."
IG Group, through offices in Sydney and Melbourne, already has a strong presence in the online trading market domestically catering to CFD traders and share traders.
The Sydney-based Independent Reserve, which was founded in 2013 by Adam Tepper, Adrian Przelozny and Lasanka Perera, specialises in cryptocurrency trading.
The company services customers in Australia, New Zealand and Singapore who use the Independent Reserve platform to buy and sell Bitcoin, Ethereum, XRP and other cryptocurrencies.
"Joining IG provides us with the platform to accelerate our growth,” says Przelozny, the CEO of Independent Reserve.
“IG's vision aligns with our mission to provide secure, regulated crypto trading and this transaction will enable us to expand our product and market reach."
IG Group says the acquisition meets its strategy of evaluating opportunities based on “strategic alignment, deliverability and financial returns”.
Independent Reserve increased revenue 88 per cent to $35.3 million in FY25, representing a compound annual growth rate of 70 per cent over the prior two years. This delivered EBITDA of $9.9 million for the year.
About 76 per cent of revenue was generated in Australia and 24 per cent in Singapore.
Independent Reserve had about 11,600 average monthly active customers in the 12-months ending 30 June 2025, up 60 per cent on the previous fiscal year.
The platform offers trading in 34 digital assets in multiple currencies, serving retail and institutional customers, with permissions to operate in Australia and Singapore.
The transaction gives IG immediate access to these markets and provides the option to expand the offering across the Asia Pacific and Middle East regions.
As part of the transaction, the leadership team and employees will remain with Independent Reserve, retaining a combined 30 per cent shareholding in the business following completion of the deal.
IG Group says this will bring “strong crypto-native expertise to lead future propositions at IG”.
IG Group became the first UK-listed company to provide spot crypto trading to retail investors in May this year, launching the product in partnership with Uphold to offer 35 coins.
In the US, Tastytrade has expanded its product range to 23 coins and enabled stablecoin account funding for investors across multiple blockchain networks.
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