The LSE Directory / Crypto exchanges
Independent Reserve is a Sydney-based cryptocurrency exchange and OTC trading desk that lets retail and institutional customers buy, sell, and hold Bitcoin, Ethereum, and dozens of other digital assets against AUD, NZD, SGD, and USD. Its order-book exchange runs alongside a dedicated OTC desk for large block trades, and the platform also offers a mobile app, portfolio tracking, a dollar-cost-averaging AutoTrader tool, and an API for programmatic access. The company was founded in June 2013 and began public operations in October 2014. The firm's specialty is regulated institutional and self-managed superannuation fund (SMSF) access to crypto, a niche distinct from the retail-first apps that dominate the Australian market. Independent Reserve Institutional serves fund managers, family offices, and SMSFs with higher verification tiers and larger trading limits, and the company says it is trusted by thousands of SMSFs. It holds Digital Currency Exchange registration with AUSTRAC in Australia and, following Monetary Authority of Singapore approval in 2021, a Major Payment Institution licence for Digital Payment Token services through its Singapore entity, giving it a dual-jurisdiction regulatory footprint that most single-market competitors lack. In its most recently reported financial year, to 30 June 2025, 76 percent of revenue came from Australia and 24 percent from Singapore. Independent Reserve was founded by Adam Tepper, Adrian Przelozny, and Lasanka Perera. Tepper died in a motorcycle accident in February 2015, after which Przelozny became CEO, a role he still holds. In February 2019 the company became the first Australian digital asset exchange to insure customer crypto holdings, through a policy underwritten at Lloyd's of London. In March 2023 it acquired the Bitcoin.com.au brand and domain, along with a list of more than 100,000 customers, for A$3 million, to serve as a simplified entry point for retail buyers. For the year to 30 June 2025 the company reported revenue of A$35.3 million, up 88 percent year on year, and EBITDA of A$9.9 million, with around 11,600 average monthly active customers, a base that had grown at a 60 percent compound annual rate over the prior two years. In September 2025, UK-listed broker IG Group Holdings plc agreed to acquire Independent Reserve, and the deal closed on 30 January 2026 after Singapore MAS approval. IG initially took a 70 percent stake for consideration of A$124.6 million, including deferred payments tied to FY26 performance, valuing the business at 5.0 times FY25 revenue. IG holds a call option on the remaining 30 percent, priced against FY27 and FY28 performance, which could bring total consideration for full ownership to as much as A$285.1 million. IG has said it plans to use Independent Reserve to launch crypto trading for its own customers in Singapore, Australia, and the UAE in the second half of 2026.
