Australia’s leading cryptocurrency exchange launches in Singapore

Following a succession of strategic partnerships and business growth in 2019, Independent Reserve has today announced it has expanded its services to Singapore.

Singapore residents will be able to buy, trade and hold digital currencies through Independent Reserve’s platform. Founded in 2013, the exchange is a pro-regulation platform with the highest levels of security. 

Having an already strong presence in Australia and New Zealand, including over 120,000 customers and around 8,000 self-managed super funds (SMSFs), Adrian Przelozny, CEO and founder of Independent Reserve, said he was pleased to be able to offer the platform’s proven, tested and refined services to a wider audience in APAC.

“Following a number of positive moves by Singaporean regulators, including the introduction of the Payments Services Act by the Monetary Authority of Singapore (MAS), we felt the time was right to make this move. Having worked closely with Australian regulators, and as the only Australian exchange to have insurance on crypto assets, the response we’ve received so far from the Singapore market has been overwhelmingly positive.”

“As part of this, we’ll soon be integrating Singaporean dollar trading pairs into our platform,” concluded Mr Przelozny. 

L-R: Independent Reserve executive team, Lasanka Perera (COO), Adrian Przelozny (CEO and founder) and Roman Stefanidi (CTO)

The exchange will run under a separate entity called Independent Reserve SG PTE LTD. 

Independent Reserve has built a proprietary, institutional grade trading platform to allow users to buy and sell Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP) and other digital currencies. 

Back in Australia, the cryptocurrency exchange has been working closely with various regulatory bodies including AUSTRAC to formulate AML/CTF regulatory frameworks for the industry. 

In February 2019, Independent Reserve announced it had become the first cryptocurrency exchange in Australia to offer insurance coverage to its clients. The policy insures against theft or loss of any cryptocurrency that is held in an Independent Reserve trading account.

The exchange also partnered with KPMG in a world first partnership between a top four accounting firm and a cryptocurrency exchange to create a crypto tax calculator. The digital tool - developed by KPMG - plugs directly into a user’s Independent Reserve account, allowing traders to estimate tax obligations on their portfolio, all with just the click of a button.

Australian finance industry heavyweights Mike Tilley (ex -CEO of Challenger Financial and Chairman of Latitude Financial), Martin Rogers (KTM Ventures) and Steve James (Seer Asset Management) are investors and board members of Independent Reserve.