IG-Owned Independent Reserve Targets APAC Corporates with New Crypto Products

IG Group's cryptocurrency exchange, Independent Reserve, has announced plans to introduce payment capabilities and yield-generating products for corporate clients in the Asia-Pacific region. The new offerings, slated for launch in the second half of 2026, are part of the exchange's next phase of regional expansion. The products will be built on the platform's existing regulated infrastructure, pending necessary approvals.

Lasanka Perera, CEO of Independent Reserve Singapore, stated, "We're seeing stronger demand from corporates and institutions for infrastructure that is regulated, scalable, and built for long-term participation. These new products are an extension of how we've been evolving our platform." IG finalized its acquisition of Independent Reserve earlier this year. The FTSE 100-listed company had previously indicated plans to launch a crypto proposition in Singapore, Australia, and the UAE following the deal.

Independent Reserve, headquartered in Australia, reported revenue of A$35.3 million for FY25, up sharply from A$18.8 million the prior year, with an EBITDA of A$9.9 million. At the time of its sale, the exchange held 129,400 funded accounts and A$1.7 billion in assets under custody. The acquisition carried an initial enterprise value of A$178 million, representing five times its prior-year revenue. The deal involved an initial payment of A$109.6 million, with a potential further A$15 million contingent on FY26 performance. IG also holds a call option to acquire the remaining 30% stake, with valuation based on FY27 and FY28 results.

Matt Macklin, Managing Director of APAC and Middle East at IG Group, commented, "Singapore is a core market for IG, with Independent Reserve playing a central role in our digital assets strategy and serving as a springboard for regional growth."