Singaporean CFD broker IG will enter Singapore’s cryptocurrency market through its acquisition of Independent Reserve, a digital asset exchange already licensed to operate under the city state’s regulatory framework.
Independent Reserve, founded in Sydney in 2013, expanded into Singapore in 2019 and became one of the first exchanges to obtain approval from the Monetary Authority of Singapore (MAS) under the Payment Services Act. It currently accounts for around 24% of its total revenue from Singaporean clients, according to IG’s acquisition announcement.
The Singaporean cryptocurrency exchange will offer trading in 34 cryptocurrencies, backed by institutional-grade security including ISO 27001 certification, segregated client funds, and cold storage custody. Independent Reserve has also built a reputation with Singapore’s financial community, integrating its Bitcoin/AUD pricing into Bloomberg terminals and forming partnerships with fintech infrastructure providers across the region.
IG’s acquisition, valued at A$178 million (£86.8m), is subject to MAS approval and expected to complete in early 2026. IG will initially acquire 70% of the exchange, with an option to buy the remainder in later years.
For Singapore, the move underlines the city state’s role as a crypto hub in Asia, where regulators have emphasised a balance of innovation and investor protection. IG said it plans to retain the Independent Reserve brand locally, while offering its customers expanded access via IG’s global trading platforms.
Matt Macklin, IG’s Managing Director for Asia Pacific & Middle East, described the acquisition as “an important step in IG’s crypto strategy in a key region.”
With its strong regulatory credentials and established client base in Singapore, Independent Reserve provides IG a ready-made entry into one of the most tightly supervised and competitive crypto markets in the world.
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