RATE Group | Major Australian Exchange Expands to Singapore for Crypto-Friendly Regs
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Major Australian Exchange Expands to Singapore for Crypto-Friendly Regs

25 Jan Major Australian Exchange Expands to Singapore for Crypto-Friendly Regs

Posted at 16:08h in Cryptocurrency News by

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Independent Reserve, one of the largest cryptocurrency exchanges in Australia, is expanding to Singapore after an “overwhelmingly positive” response from the regulator.

Adrian Przelozny, CEO and founder of the Sydney-based exchange, announced Friday it had expanded its trading services to users in Singapore, saying in a statement that his team “felt the time was right to make this move.”

Przelozny referenced “a number of positive moves by Singaporean regulators” as part of his reasoning.

Independent Reserve offers a host of retail and institutional trading features, including a spot marketplace and over-the-counter (OTC) service. The exchange introduced insurance coverage against theft or loss of digital assets held in a client’s account in February 2019.

Established in 2013, Independent Reserve claims it has more than 120,000 customers and 8,000 self-managed super funds (SMSFs), a private superannuation fund operated by its members and regulated by Australian law.

Singapore adopted…

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