IG sells Small Exchange to Kraken owner in $100m deal
By Frank Prenesti
Date: Thursday 16 Oct 2025
(Sharecast News) - IG Group said had had sold Small Exchange to Payward the parent company of the crypto exchange Kraken.
The deal values Small Exchange at $100.0m (£74.9m), with the price comprising $32.5m in cash and $67.5m in Payward stock. The sale results in a post-tax gain of £73.3m and increases group regulatory capital resources by £22.7m, IG said.
Under the terms of the deal, IG will enter into a partnership agreement with Kraken which includes distributing the new exchange's products. Small Exchange is a designated contract market registered with the US Commodity Futures Trading Commission.
IG last month announced the acquisition of Independent Reserve, a leading crypto exchange based in Australia. The deal remains on track to complete in early 2026. IG also obtained a cryptoasset licence from Britain's Financial Conduct Authority, enabling it to expand its crypto offering to UK customers.
Reporting by Frank Prenesti for Sharecast.com
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