IG Group Completes Acquisition of Cryptocurrency Exchange Independent Reserve

BlockBeats News, February 5th, IG Group has completed the acquisition of the cryptocurrency exchange Independent Reserve. The transaction was approved by the Monetary Authority of Singapore. According to Foresight News, IG Group had previously acquired a majority stake in Independent Reserve for $72 million in September last year. IG initially acquired 70% of Independent Reserve's shares and had the option to purchase the remaining 30% based on future performance. The transaction is still subject to regulatory approval and is expected to be completed in early 2026, with a total value of 178 million Australian dollars (117.6 million US dollars).