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IG Group Acquires Majority Stake in Independent Reserve for $72 Million

Australian brokerage IG Group has purchased a controlling stake in crypto exchange Independent Reserve in a deal valued at $72 million USD.

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Terms & Concepts
  • Majority Stake: Ownership of more than 50% of a company's voting shares, giving control over its operations.
  • Crypto Exchange: A platform that allows users to buy, sell, and trade cryptocurrencies.
  • Acquisition: The act of one company purchasing most or all of another company's shares to gain control.