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LONDON - IG Group Holdings plc (LSEG:IGG) has completed the sale of Small Exchange Inc to Payward Inc, the parent company of crypto exchange Kraken, for $100 million (£74.9 million), according to a press release statement on Thursday.
The transaction includes $32.5 million (£24.3 million) in cash and $67.5 million (£50.6 million) in Payward stock. The sale generates a post-tax gain of £73.3 million for IG Group and increases its regulatory capital resources by £22.7 million.
As part of the deal, IG will enter into a partnership agreement with Kraken to distribute the new exchange’s products.
"The transaction represents a significant return on the Group’s acquisition of Small Exchange and enables us to collaborate with Kraken on the distribution of new crypto products," said Breon Corcoran, CEO of IG Group.
The sale follows several recent developments in IG Group’s cryptocurrency strategy. In September, the company announced the acquisition of Independent Reserve, an Australian crypto exchange, with completion expected in early 2026 pending regulatory approvals. IG Group also recently obtained a cryptoasset license from the UK’s Financial Conduct Authority.
Earlier this fiscal year, IG participated in a funding round for Zero Hash Holdings LLC, a market infrastructure provider for crypto assets, resulting in an 8.1% shareholding. This investment was part of one of the largest private market raises in the crypto sector in 2025, valuing Zero Hash at approximately $1 billion.
Small Exchange is a Designated Contract Market registered with the US Commodity Futures Trading Commission.
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