##{"id":96893,"date":"2021-10-01T07:17:00","date_gmt":"2021-09-30T21:17:00","guid":{"rendered":"https:\/\/www.fnarena.com\/index.php\/2021\/10\/01\/independent-reserve-becomes-first-australian-cryptocurrency-exchange-licensed-in-singapore\/"},"modified":"2021-10-01T07:17:00","modified_gmt":"2021-09-30T21:17:00","slug":"independent-reserve-becomes-first-australian-cryptocurrency-exchange-licensed-in-singapore","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2021\/10\/01\/independent-reserve-becomes-first-australian-cryptocurrency-exchange-licensed-in-singapore\/","title":{"rendered":"Independent Reserve becomes first Australian cryptocurrency exchange licensed in Singapore"},"content":{"rendered":"<p><span class=\"xn-location\">SYDNEY<\/span>, <span class=\"xn-chron\">Oct. 1, 2021<\/span> \/PRNewswire\/ &#8212; Cryptocurrency exchange Independent Reserve has today received approval for a Major Payment Institution Licence in <span class=\"xn-location\">Singapore<\/span>, making it the first and only Australian virtual asset service provider available to retail and institutional investors in <span class=\"xn-location\">Singapore<\/span>.<\/p>\n<p>The approval was granted following a rigorous review of Independent Reserve by the local regulator, the Monetary Authority of <span class=\"xn-location\">Singapore<\/span>, focused on customer protection mechanisms, transaction screening and compliance structures, as well as information technology services.<\/p>\n<p>CEO <span class=\"xn-person\">Adrian Przelozny<\/span> said he was delighted to receive the approval and proud that an Australian company had been selected, beating over 170 global exchanges to receive the coveted licence. He added <span class=\"xn-location\">Singapore<\/span><span>&#8216;<\/span>s well-regulated environment would allay investor protection concerns around the safe custody of assets, KYC requirements, and market manipulation &#8211; making it easier to provide cryptocurrency services to retail and institutional investors that wish to trade digital assets.<\/p>\n<p><i>&#034;A well-regulated environment will benefit both investors and crypto industry stakeholders. With tailormade rules for the crypto industry, <span class=\"xn-location\">Singapore<\/span> has the clearest and most detailed licensing requirements of any jurisdiction in <span class=\"xn-location\">Asia<\/span>. And now, Independent Reserve is one of the first fully licensed crypto exchanges available to Singaporeans, enabling them to quickly and securely use their SGD to get in and out of crypto,&#034; he said.<\/i><\/p>\n<p><span>&#034;<\/span><i>There are real opportunities for <span class=\"xn-location\">Australia<\/span> to learn from <span class=\"xn-location\">Singapore<\/span><\/i><i><span>&#8216;<\/span>s thorough approach to crypto industry licensing. Currently, there are no custodian requirements for digital asset exchanges in <span class=\"xn-location\">Australia<\/span>. We<\/i><i><span>&#8216;<\/span>d like to see, and have been pushing for, appropriate legislation to be introduced locally that will support the industry and provide protection for investors,&#034; he said.<\/i><\/p>\n<p>Established in <span class=\"xn-location\">Australia<\/span> in 2013, Independent Reserve embarked on its international expansion plans in late 2019, setting up its first overseas operations in <span class=\"xn-location\">Singapore<\/span> to provide digital asset exchange and OTC trading services to people and institutions. <\/p>\n<p>Independent Reserve provides SGD, AUD, USD and NZD fiat-to-crypto trading pairs. The licence is a major step forward for individuals and companies in <span class=\"xn-location\">Singapore<\/span> looking for an easy and trusted onramp into cryptocurrency.<\/p>\n<p><b>ABOUT INDEPENDENT RESERVE<\/b><\/p>\n<p>Established in 2013, <a target=\"_blank\" href=\"https:\/\/www.independentreserve.com\/buy\/bitcoin\" rel=\"nofollow\">Independent Reserve<\/a>&#160;is <span class=\"xn-location\">Australia<\/span><span>&#8216;<\/span>s most trusted cryptocurrency order book exchange and OTC trading desk. Over 200,000 customers from <span class=\"xn-location\">Singapore<\/span>, <span class=\"xn-location\">Australia<\/span> and <span class=\"xn-location\">New Zealand<\/span> trust Independent Reserve to easily buy and sell Bitcoin, Ethereum, XRP and other major cryptocurrencies. Independent Reserve offers a range of innovative features, including AutoTrader, OTC trading desk, API integration and world-class security.<\/p>\n<p><b>ABOUT THE MAJOR PAYMENT INSTITUTION LICENCE<\/b><\/p>\n<p>The Monetary Authority of <span class=\"xn-location\">Singapore<\/span> licensure approval was granted under the Payment Services Act for Independent Reserve to operate as a regulated provider for Digital Payment Token Services.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SYDNEY, Oct. 1, 2021 \/PRNewswire\/ &#8212; Cryptocurrency exchange Independent Reserve has today received approval for a Major Payment Institution Licence&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[105],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/96893"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=96893"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/96893\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=96893"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=96893"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=96893"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}