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Independent Reserve

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Independent Reserve
Company typePrivate
FoundedJune 2013; 11 years ago (2013-06) [1]
FounderAdrian Przelozny, Adam Tepper
Headquarters
Sydney, New South Wales
,
Australia
Area served
36 countries
WebsiteIndependent Reserve

Independent Reserve is an Australian-based digital currency exchange founded in 2013.[2][3] They are an order book exchange and an OTC desk.[4]

History

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Independent Reserve was founded in June 2013[5][6] by Adrian Przelozny and Adam Tepper.[citation needed] It started operating in October 2014.[7] In February 2015, Adam passed away in a motorcycle accident[8] and Adrian Przelozny took over as CEO.[9][10] In 2018, Mike Tilley along with KTM Ventures invested into Independent Reserve for 25 percent of the company.[11][12] [13] In March 2018, the OTC desk was launched.[14] In February 2019, Independent Reserve was the first Australian digital asset exchange to offer insurance on cryptocurrency assets.[15] In January 2020, Independent Reserve announced its expansion into Singapore, citing regulatory conditions.[16] In August 2021, the platform secured an approval from the Monetary Authority of Singapore that will allow it to offer digital payment token services.[17][18][19][20]

In December 2021, Independent Reserve partnered with the Sydney Swans team and signed a one-year arrangement as the “Official Cryptocurrency Exchange of the Sydney Swans”.[21]

In March 2023, Independent Reserve acquired a cryptocurrency exchange brand Bitcoin.com.au in a deal worth $3 million.[22] In August 2023, Independent Reserve signed a partnership with PayPal,[23] to enable users to send Australian dollars using a credit card or their PayPal account.[24]

References

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  1. ^ "Current details for ABN 46 164 257 069". abr.business.gov.au. 2014-11-01. Retrieved 2023-10-24.
  2. ^ "Crypto Exchange Gets Singapore Nod on Digital Token Services". Bloomberg.com. 2021-08-02. Retrieved 2023-10-24.
  3. ^ "Singapore leads in cleaning up the crypto industry". www.thebanker.com. Retrieved 2023-10-24.
  4. ^ "Why Aussie crypto stars are certain Larry Fink is wrong". Australian Financial Review. 2022-12-04. Retrieved 2023-10-24.
  5. ^ "Shareholders in biggest Aussie crypto exchange fired up". Australian Financial Review. 2020-11-19. Retrieved 2023-10-24.
  6. ^ Gimondo, Bianca (2023-03-24). "Bored Apes and bank rates: A look at cryptocurrency and NFTs in 2023". The Market Herald. Retrieved 2023-10-24.
  7. ^ "Crypto exchanges Independent Reserve, Coinjar win regulation offshore". Australian Financial Review. 2021-09-30. Retrieved 2023-10-24.
  8. ^ "Australian bitcoin entrepreneur Adam Tepper dies in Thailand". The Guardian. Australian Associated Press. 2015-02-28. ISSN 0261-3077. Retrieved 2023-10-24.
  9. ^ "Australian Bitcoin trader dies in Thailand". ABC News. 2015-02-28. Retrieved 2023-10-24.
  10. ^ Powell, Dominic (2022-12-04). "FTX fallout: Why running a crypto exchange just got a lot harder". The Sydney Morning Herald. Retrieved 2023-10-24.
  11. ^ "Australian Crypto Exchange Debuts in Singapore". finews.asia. 2020-01-31. Retrieved 2023-10-24.
  12. ^ "Crypto exchange joins elite group". .theaustralian.com. Retrieved 2023-10-24.
  13. ^ Roy, Jeff. "Independentreserve.com/au". Retrieved 22 April 2021.
  14. ^ "Digital Currency Exchange Opens OTC Desk For Institutions: Independent Reserve". mondovisione.com. Retrieved 2023-10-24.
  15. ^ "Crypto News: Australia Moves On Regulation". Forbes Australia. 2023-10-24. Retrieved 2023-10-24.
  16. ^ "Aussie Crypto Exchange 'Independent Reserve' Expands to Singapore | Finance Magnates". Financial and Business News | Finance Magnates. 2020-01-24. Retrieved 2023-10-24.
  17. ^ Ruehl, Mercedes (2021-08-03). "Singapore to grant first crypto licence in bid to lure digital asset groups". Financial Times. Retrieved 2023-10-24.
  18. ^ Staff Reporter (2021-10-01). "Independent Reserve gets crypto licence from MAS". Singapore Business Review. Retrieved 2023-10-24.
  19. ^ Lim, Joyce (2021-10-01). "MAS grants crypto licences to DBS unit and Australian exchange; more licences expected to be issued". The Straits Times. ISSN 0585-3923. Retrieved 2023-10-24.
  20. ^ Swan, David (22 November 2022). "FTX's local users to lose 'very significant' sums". The Australian.
  21. ^ Badman, Rob (2021-12-06). "'Go the Bloods'… Independent Reserve crypto exchange teams up with Sydney Swans". Stockhead. Retrieved 2023-10-24.
  22. ^ "Crypto exchange buys Bitcoin.com.au brand for $3m". Australian Financial Review. 2023-03-22. Retrieved 2023-10-24.
  23. ^ Badman, Rob (24 August 2023). "Money will become digital': Independent Reserve integrates PayPal payments". Herald Sun.
  24. ^ "PayPal is shifting Aussie dollars onto crypto exchanges". Australian Financial Review. 2023-08-23. Retrieved 2023-10-24.
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