IG Group Holdings said Thursday it has sold its U.S. Small Exchange subsidiary to Payward Inc., the parent company of cryptocurrency exchange Kraken, in a deal that values the platform at $100 million.
The deal includes $32.5 million in cash and $67.5 million in Payward shares, giving IG an after-tax profit of £73.3 million and boosting its regulatory capital by £22.7 million.
Under the agreement, IG will collaborate with Kraken to distribute the new exchange products, with more details expected in due course.
“This deal represents a significant return on the group’s acquisition of Small Exchange and enables us to collaborate with Kraken on the distribution of new cryptocurrency products,” said Bryon Corcoran, CEO of IG.
The deal represents IG’s latest step in expanding its digital asset strategy. In September, the group announced plans to acquire Australian cryptocurrency exchange Independent Reserve, which is expected to be completed in early 2026 pending regulatory approval.
Last month, it also obtained a UK crypto asset license from the Financial Conduct Authority.
IG said the sale and new partnership are in line with its broader strategy to strengthen its position in the fast-growing cryptocurrency and token asset markets.