Australian Cryptocurrency Exchange Launches in Singaporeby Fintech News Singapore January 28, 2020
Australian based cryptocurrency exchange Independent Reserve announced the expansion of its services to Singapore and Asia Pacific. Citing positive moves by Singaporean regulators like the introduction of the Payments Services Act, its CEO and founder Adrian Przelozny felt that it was “the right time to make this move”.
The exchange will run under a separate entity called Independent Reserve SG PTE LTD.
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 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.