IG Group has made a significant move in the cryptocurrency sector by acquiring the Australian exchange Independent Reserve, following regulatory approval in Singapore. This acquisition marks a strategic expansion for IG Group into the digital asset market across multiple regions, as stated in the official source.
IG Group Acquires Licensed Crypto Exchange
The acquisition, valued at AUD 178 million, grants IG Group direct ownership of a licensed crypto exchange that is gaining traction in Asia. This move is part of IG Group's broader strategy to diversify its offerings beyond traditional trading products, ensuring compliance in the evolving crypto landscape.
Operational Independence of Independent Reserve
Independent Reserve will maintain its operational independence, with co-founder and CEO Adrian Przelozny continuing to lead the exchange. This continuity is expected to bolster the exchange's growth and enhance IG Group's presence in the regulated digital asset space across Australia, Asia, and the Middle East.
Recently, IG Group expanded its presence in the cryptocurrency market by acquiring Independent Reserve. In a related development, AUDC Pty Ltd has launched the Australian Digital Dollar, which operates on the Hedera Network. For more details, see Australian Digital Dollar.
