IN BRIEF: IG Group completes Independent Reserve acquisition

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IG Group Holdings PLC - London-based online trading platform operator - Completes acquisition of Australian cryptocurrency exchange Independent Reserve, having received regulatory approval from the Monetary Authority of Singapore. The deal, worth an initial A$178.0 million, or £86.8 million, was announced in September. IG says it expects to launch an Independent Reserve-powered crypto proposition for customers in Singapore, Australia and the United Arab Emirates, in the second half of this year.

IG Group’s Asia Pacific & Middle East Managing Director Matt Macklin comments: ‘I’m delighted to welcome Adrian and the Independent Reserve team to IG. This acquisition strengthens our crypto capabilities and positions us to meet growing customer demand across APAC and the Middle East.’

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