The CEO and Founder of the Sydney based cryptocurrency exchange Independent Reserve, Adrian Przelozny, declared recently that they are expanding their trading services to the users in Singapore.
Further, the residents of Singapore will now be able to purchase, sell, and trade cryptocurrencies via the Independent Reserve Platform. The platform was founded in 2013 and this exchange is a pre-regulation platform known for its highest levels of security.
By expanding in Singapore, the users will now be able to access the trading platform for trading cryptocurrencies. Independent reserve confirmed that the Singaporean dollar trading pairs will now be added to the platform and it will function as an independent entity from Australian based platform.
Independent Reserve had developed an institutional, proprietary grade trading platform, which allows its users to purchase and sell Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), Ripple (XRP), and various other digital currencies.
Further, Independent reserve has a powerful presence in New Zealand and Australia, which includes more than 120,000 clients and over 8,000 Self Managed Super Funds (SMSFs). Mr. Adrian remarked that he is excited to offer the platform’s tested, proven, and refined services to a much wider audience covering APAC.
Mr. Adrian Przelozny said,
“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.”
He further added that as part of the expansion process, they would soon be adding the trading pairs of Singaporean dollars in their platform. Furthermore, the cryptocurrency exchange will function under Independent Reserve SG PTE LTD.
Earlier, the exchange had associated with KPMG, which was considered as a world’s first partnership of a leading accounting firm and a cryptocurrency exchange to develop a crypto tax calculator. KPMG’s digital tool plugs directly into the user’s independent reserve account by permitting the traders to calculate necessary tax calculations in their portfolio with just a click of a button.
The exchange announced in February 2019 that it had become Australia’s first cryptocurrency exchange to offer insurance coverage to its customers. According to the exchange, this policy insures against theft or loss of cryptocurrency that is held at the trading account of Independent reserve.