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4h ago

IG Group to Buy 70% of Independent Reserve in A$178 Million APAC Crypto Push

Regulatory approval in Singapore and Australia remains the key step before completion.

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The former cricketer Stuart Broad at Lord’s last year to promote IG Group, which is moving into cryptocurrency as bitcoin moves close to $117,000, up 950 per cent over five years

Overview

  • IG will pay A$109.6 million upfront for a 70% stake, with a further A$15 million tied to FY26 performance and an option to acquire the remaining 30% based on FY27–FY28 results.
  • The transaction implies an enterprise value of about A$178 million and is slated to close in early 2026 subject to approvals from MAS in Singapore and FIRB in Australia.
  • Independent Reserve reported FY25 revenue of A$35.3 million and EBITDA of A$9.9 million, with 129,400 funded accounts and around A$1.7 billion in client assets under custody.
  • IG plans to preserve the Independent Reserve brand initially while onboarding its leadership and staff, who will retain roughly a 30% shareholding.
  • The acquisition is intended to expand IG’s regulated crypto offering in Australia and Singapore and complements recent rollouts in the UK via Uphold and in the US through tastytrade, with earnings accretion targeted from FY2027.