UK’s IG Group buys Australian crypto exchange
On Friday, the UK trading platform IG Group expanded its footprint in the Asia-Pacific region by acquiring Australian digital asset exchange Independent Reserve for AUD178 million ($117.41 million). The Sydney-based company offers multi-currency trading in 34 cryptocurrencies in Australia and Singapore.
IG maintained that Independent Reserve’s management and staff are expected to remain with the company, with a collective 30% shareholding at completion. The group said it will retain the Australian exchange’s brand and incorporate it into IG’s trading platforms in Australia and Singapore.
IG holds 70% of Independent Reserve
The British company revealed that it had purchased an initial 70% of the Independent Reserve for…
