Independent Reserve is an Australian-based

digital currency exchange A cryptocurrency exchange, or a digital currency exchange (DCE), is a business that allows customers to trade cryptocurrencies or digital currencies for other assets, such as conventional fiat money or other digital currencies. Exchanges may acce ...

founded in 2013. They are an

order book An order book is the list of orders (manual or electronic) that a trading venue (in particular stock exchanges) uses to record the interest of buyers and sellers in a particular financial instrument. A matching engine uses the book to determine ...

exchange and an OTC desk.

History

Independent Reserve was founded in June 2013 by Adrian Przelozny and Adam Tepper. It started operating in October 2014. In February 2015, Adam passed away in a motorcycle accident and Adrian Przelozny took over as CEO. In 2018, Mike Tilley along with KTM Ventures invested into Independent Reserve for 25 percent of the company. In March 2018, the OTC desk was launched. In February 2019, Independent Reserve was the first Australian digital asset exchange to offer insurance on cryptocurrency assets. In January 2020, Independent Reserve announced its expansion into

Singapore Singapore, officially the Republic of Singapore, is an island country and city-state in Southeast Asia. The country's territory comprises one main island, 63 satellite islands and islets, and one outlying islet. It is about one degree ...

, citing regulatory conditions. In August 2021, the platform secured an approval from the

Monetary Authority of Singapore The Monetary Authority of Singapore or (MAS), is the central bank and financial regulatory authority of Singapore. It administers the various statutes pertaining to money, banking, insurance, securities and the financial sector in general, as ...

that will allow it to offer digital payment token services. In December 2021, Independent Reserve partnered with the

Sydney Swans The Sydney Swans are a professional Australian rules football club based in Sydney, New South Wales. The men's team competes in the Australian Football League (AFL), and the women's team in the AFL Women's (AFLW). The Swans also field a Austral ...

team and signed a one-year arrangement as the “Official Cryptocurrency Exchange of the Sydney Swans”. In March 2023, Independent Reserve acquired a cryptocurrency exchange brand Bitcoin.com.au in a deal worth $3 million. In August 2023, Independent Reserve signed a partnership with

PayPal PayPal Holdings, Inc. is an American multinational financial technology company operating an online payments system in the majority of countries that support E-commerce payment system, online money transfers; it serves as an electronic alter ...

, to enable users to send Australian dollars using a credit card or their PayPal account.

Bitcoin.com.au

Bitcoin.com.au is an Australian

cryptocurrency exchange A cryptocurrency exchange, or a digital currency exchange (DCE), is a business that allows customers to trade cryptocurrencies or digital currencies for other assets, such as conventional fiat money or other digital currencies. Exchanges may acce ...

platform founded in by Rupert Hackett, then purchased from Banxa by Independent Reserve in 2023. On 20 June 2016, Bitcoin.com.au partnered with BlueShyft. On August 2, 2017, the platform raised $815,000 in series A funding to expand globally and added

Ethereum Ethereum is a decentralized blockchain with smart contract functionality. Ether (abbreviation: ETH) is the native cryptocurrency of the platform. Among cryptocurrencies, ether is second only to bitcoin in market capitalization. It is open-s ...

and XRP to its exchange. On July 13, 2018, Ben Ingram, an Australian

PwC PricewaterhouseCoopers, also known as PwC, is a Multinational corporation, multinational professional services network based in London, United Kingdom. It is the second-largest professional services network in the world and is one of the Big Fo ...

director, became the new CEO. In June 2020, the company partnered with Australia Post, making Bitcoin purchases available at any post offices across Australia. In March 2023, Bitcoin.com.au became a major sponsor of the

. In the same month, the platform was purchased by a Sydney-based cryptocurrency company called Independent Reserve for $3M as announced by its CEO Adrian Przelozny. In August 2023, Bitcoin.com.au partnered with PayPal, becoming the first digital exchange in Australia to integrate with the mentioned platform as a funding option.{{Cite web , title=MSN , url=https://www.msn.com/ , access-date=2023-12-05 , website=www.msn.com

References

External links

Reform options for regulation of digital assets (Parliament of Australia)
Australian companies established in 2013 Financial services companies based in Sydney Cryptocurrency exchanges Cryptocurrency companies