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IG Group Holdings plc has completed the sale of US-based Small Exchange Inc to digital assets company Payward Inc, the parent firm of cryptocurrency exchange Kraken.
The transaction values Small Exchange at $100 million, comprising $32.5 million in cash and $67.5 million in Payward stock. IG said the deal will generate a post-tax gain of £73.3 million and increase its regulatory capital resources by £22.7 million.
As part of the agreement, IG will enter into a partnership with Kraken to distribute products from the new exchange. Details of these products will be announced in due course.
“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.”
Breon Corcoran, CEO, IG Group
The London-listed trading and investments firm has been expanding its crypto strategy in recent months. In September 2025, IG announced the acquisition of Australia-based crypto exchange Independent Reserve. The deal is subject to regulatory approval and is expected to complete in early 2026.
Last month, IG also obtained a cryptoasset licence from the Financial Conduct Authority, paving the way for an expanded crypto offering in the UK market.
Earlier in FY26, IG participated in a new funding round at US-based Zero Hash Holdings LLC, a provider of infrastructure for crypto, stablecoin, and tokenised assets. The Group now holds an 8.1% stake in the company. The funding round, one of the largest in the crypto and stablecoin sector this year, valued Zero Hash at around $1 billion.
