British Trading Firm IG Group Acquires Aussie Crypto Exchange for $117M, Sets APAC Presence [Yahoo! Finance]
IG GROUP HLDGS PLC S/ADR (IGGHY)
NASDAQ:AMEX Investor Relations:
iggroup.com/investor-relations
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Source: Yahoo! Finance
Per a Reuters report, the acquisition marks IG's expansion into the APAC crypto market, enhancing its operations alongside the UK. Independent Reserve, a prominent cryptocurrency exchange, has a strong presence in both Australia and Singapore. The platform already offers trading in 34 digital assets, serving retail and institutional investors. Further, the exchange posted A$35.3 million revenue in the 12 months to June, nearly double the previous year. The acquisition deal follows an extensive assessment of the crypto exchange industry, IG Group said in an official statement. “This acquisition marks an important step in IG's crypto strategy in a key region,” Matt Macklin, IG's Managing Director, noted. “Independent Reserve is one of Australia's largest and fastest-growing digital asset exchanges with established regulatory foundations, proven technology and strong leadership. I am delighted that the Independent Reserve team will join IG as they embark on their next phase of
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