MASRegulated
Singapore Crypto Asset Exchange License (CEX)
Independent Reserve
Regulated in Singapore
Crypto Asset Exchange License (CEX)
Basic Information
Country/RegionSingapore
Exchange AbbreviationIndependent Reserve
Company NameIndependent Reserve SG Pte. Ltd.
Operating Period10-15 years
Websitehttps://www.independentreserve.com/
Exchange TypeCentralized Exchange
RiskNotice
2 risk alerts
AUSTRACActive
Australia Virtual Asset Service Provider (VASP)
- License No.
- 164257069
- Licensed Entity
- INDEPENDENT RESERVE PTY LTD
User Feedback
2
Independent Reserve? More like Independent Rip-off! Their transaction fees are sky-high and the user interface is as confusing as a maze. Don't get me started on their customer support, it's like talking to a brick wall.
The liquidity of Independent Reserve is really poor, and the fees are too high. Not only that, the user interface is too complex, with very low user-friendliness for beginners!
Exchanges with 24H trading volume exceeding --
0 /100
$10,180,000
13.26% Exchange Overview
Exchange Overview
Launched in October 2013, Independent Reserve is a centralized exchange based in Sydney Australia. It supports AUD, NZD, and USD fiat pairs and OTC. It is regulated by AUSTRAC under the Anti Money Laundering Counter-Terrorism Financing Act 2018. Its geographical focus is on Australia, New Zealand. and Singapore. Citizens from 30+ countries are permitted to join.
In January 2020, it launched in Singapore and aims to become a licenced operator with MAS. Independent Reserve describes itself as a pro-regulation exchange with a focus on trust and security. In February 2019, Independent Reserve announced it had become the first cryptocurrency exchange in Australia to offer insurance coverage to its clients. It offers a KPMG tax calculator, an auto trading platform, Bloomberg price feeds, and API trading.
With mandatory KYC and tiered trading fees, its services are available to individuals, businesses, trusts and Self-Managed Superannuation Funds.
Business Region
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News
Independent Reserve First in Singapore to List Ripples RLUSD Stablecoin
Independent Reserve (IR), a crypto exchange in Singapore, has become the first in the city-state to list Ripple‘s USD-backed stablecoin, Ripple USD (RLUSD). According to the report, customers in Singapore can now trade RLUSD against Singapore Dollars and US Dollars on the exchange’s order book and over-the-counter (OTC) desk. Independent Reserve is the first #crypto exchange in #Singapore to list #stablecoin Ripple USD (RLUSD)! ???? IR #SG customers can trade #RLUSD in #SGD & #USD on our order book and OTC desk. The listing will be available on XRP Ledger and Ethereum networks. Also, Ripple USD is fully backed 1:1 by the US Dollar, with reserves held in US fiat and cash equivalents, including short-term Treasury Bills and government money market funds. These assets are maintained at US-based financial institutions, ensuring the stability of the stablecoin. To enhance transparency, Ripple will publish monthly third-party audits of RLUSDs reserve assets conducted by an independent firm. How Will IR Clients Benefit from RLUSD？ Including RLUSD in IRs order book and OTC desk gives Singaporean users access to a seamless, cross-border liquidity solution. This move aims to simplify global transactions by offering faster and more cost-effective solutions than traditional financial systems. As part of the IR offering, clients can
Commonwealth Bank to enable crypto trading for 6.5M Aussies, 'other banks will follow'
Commonwealth Bank to enable crypto trading for 6.5M Aussies, other banks will follow The CBA stated that it will support 10 crypto assets in its banking app, including Bitcoin, Ethereum, Bitcoin Cash and Litecoin. The Commonwealth Bank of Australia (CBA) is set to launch crypto trading services for the 6.5 million users of its CommBank app. The CBA will become the first bank in Australia to support crypto, and Blockchain Australia says it is “inevitable” that the other ‘big four’ banks including National Australia Bank (NAB), Australia and New Zealand Banking Group (ANZ) and Westpac will soon follow suit. According to a Nov. 3 announcement, the CBA has partnered with the Gemini crypto exchange and blockchain analysis firm Chainalysis to launch its crypto services. The bank will launch a pilot for a limited number of customers in the coming weeks, before rolling out the full service in 2022. Ten crypto assets will be supported in its banking app, with Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH) and Litecoin (LTC) named at this stage. Steve Vallas, CEO of Blockchain Australia told Cointelegraph that this move was “extraordinarily important” as the big four banks in Australia “underpin our national and international reputation as a financial services destination.” “The confidence