Independent Reserve

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Independent Reserve
Company type Private
FoundedJune 2013;12 years ago (2013-06) [1]
FounderAdrian Przelozny, Adam Tepper
Headquarters
Sydney, New South Wales
,
Australia
Area served
36 countries
Website Independent 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]

Contents

History

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]

In March 2018, the OTC desk was launched. [13] In February 2019, Independent Reserve was the first Australian digital asset exchange to offer insurance on cryptocurrency assets. [14] In January 2020, Independent Reserve announced its expansion into Singapore, citing regulatory conditions. [15] In August 2021, the platform secured an approval from the Monetary Authority of Singapore that will allow it to offer digital payment token services. [16] [17] [18] [19]

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”. [20]

In March 2023, Independent Reserve acquired a cryptocurrency exchange brand Bitcoin.com.au in a deal worth $3 million. [21] In August 2023, Independent Reserve signed a partnership with PayPal, [22] to enable users to send Australian dollars using a credit card or their PayPal account. [23]

Bitcoin.com.au

Bitcoin.com.au
Company typeprivate
Founded2015
Headquarters
Sydney, New South Wales, Australia
Area served
Australia
Key people
Adrian Przelozny (CEO)
Website https://bitcoin.com.au/

Bitcoin.com.au is an Australian cryptocurrency exchange platform founded in by Rupert Hackett, [24] then purchased from Banxa by Independent Reserve in 2023.

On 20 June 2016, Bitcoin.com.au partnered with BlueShyft. [25]

On August 2, 2017, the platform raised $815,000 in series A funding to expand globally and added Ethereum and XRP to its exchange. [26] [27]

On July 13, 2018, Ben Ingram, an Australian PwC director, became the new CEO. [28]

In June 2020, the company partnered with Australia Post, making Bitcoin purchases available at any post offices across Australia. [29] [30]

In March 2023, Bitcoin.com.au became a major sponsor of the Sydney Swans. [31] [32] [33] [34] 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. [33] [35]

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. [36]

References

  1. ↑ "Current details for ABN 46 164 257 069". abr.business.gov.au. November 1, 2014. Retrieved October 24, 2023.
  2. ↑ "Crypto Exchange Gets Singapore Nod on Digital Token Services". Bloomberg.com. August 2, 2021. Retrieved October 24, 2023.
  3. ↑ "Singapore leads in cleaning up the crypto industry". www.thebanker.com. Retrieved October 24, 2023.
  4. ↑ "Why Aussie crypto stars are certain Larry Fink is wrong". Australian Financial Review. December 4, 2022. Retrieved October 24, 2023.
  5. ↑ "Shareholders in biggest Aussie crypto exchange fired up". Australian Financial Review. November 19, 2020. Retrieved October 24, 2023.
  6. ↑ Gimondo, Bianca (March 24, 2023). "Bored Apes and bank rates: A look at cryptocurrency and NFTs in 2023". The Market Herald. Retrieved October 24, 2023.
  7. ↑ "Crypto exchanges Independent Reserve, Coinjar win regulation offshore". Australian Financial Review. September 30, 2021. Retrieved October 24, 2023.
  8. ↑ "Australian bitcoin entrepreneur Adam Tepper dies in Thailand". The Guardian. Australian Associated Press. February 28, 2015. ISSN   0261-3077 . Retrieved October 24, 2023.
  9. ↑ "Australian Bitcoin trader dies in Thailand". ABC News. February 28, 2015. Retrieved October 24, 2023.
  10. ↑ Powell, Dominic (December 4, 2022). "FTX fallout: Why running a crypto exchange just got a lot harder". The Sydney Morning Herald. Retrieved October 24, 2023.
  11. ↑ "Australian Crypto Exchange Debuts in Singapore". finews.asia. January 31, 2020. Retrieved October 24, 2023.
  12. ↑ "Crypto exchange joins elite group". .theaustralian.com. Retrieved October 24, 2023.
  13. ↑ "Digital Currency Exchange Opens OTC Desk For Institutions: Independent Reserve". mondovisione.com. Retrieved October 24, 2023.
  14. ↑ "Crypto News: Australia Moves On Regulation". Forbes Australia. October 24, 2023. Retrieved October 24, 2023.
  15. ↑ "Aussie Crypto Exchange 'Independent Reserve' Expands to Singapore | Finance Magnates". Financial and Business News | Finance Magnates. January 24, 2020. Retrieved October 24, 2023.
  16. ↑ Ruehl, Mercedes (August 3, 2021). "Singapore to grant first crypto licence in bid to lure digital asset groups". Financial Times. Retrieved October 24, 2023.
  17. ↑ Staff Reporter (October 1, 2021). "Independent Reserve gets crypto licence from MAS". Singapore Business Review. Retrieved October 24, 2023.
  18. ↑ Lim, Joyce (October 1, 2021). "MAS grants crypto licences to DBS unit and Australian exchange; more licences expected to be issued". The Straits Times. ISSN   0585-3923 . Retrieved October 24, 2023.
  19. ↑ Swan, David (November 22, 2022). "FTX's local users to lose 'very significant' sums". The Australian.
  20. ↑ Badman, Rob (December 6, 2021). "'Go the Bloods'… Independent Reserve crypto exchange teams up with Sydney Swans". Stockhead. Retrieved October 24, 2023.
  21. ↑ "Crypto exchange buys Bitcoin.com.au brand for $3m". Australian Financial Review. March 22, 2023. Retrieved October 24, 2023.
  22. ↑ Badman, Rob (August 24, 2023). "Money will become digital': Independent Reserve integrates PayPal payments". Herald Sun.
  23. ↑ "PayPal is shifting Aussie dollars onto crypto exchanges". Australian Financial Review. August 23, 2023. Retrieved October 24, 2023.
  24. ↑ "One group of Australians is making more money from Bitcoin than everyone else". Business Insider. Retrieved December 5, 2023.
  25. ↑ Blueshyft (June 23, 2016). "Sitting down with our new partner, bitcoin.com.au". Medium. Retrieved November 23, 2023.
  26. ↑ "State Library of Queensland". www.slq.qld.gov.au. August 2, 2017. Retrieved November 23, 2023.
  27. ↑ "This Australian Bitcoin exchange startup just raised $815,000 to expand globally and add Ethereum to its platform". March 19, 2018. Archived from the original on March 19, 2018. Retrieved December 5, 2023.
  28. ↑ "An Australian PwC director has left to become CEO of a crypto advisory business". Australian Financial Review. July 12, 2018. Retrieved November 23, 2023.
  29. ↑ FinTech, Australian (June 23, 2020). "Australia Post and Bitcoin.com.au launch a new partnership to pay for Bitcoin at Post Offices". Australian FinTech. Retrieved December 5, 2023.
  30. ↑ "Australia Post Now Lets Customers Pay for Bitcoin at Over 3,500 Outlets". Yahoo Finance. June 26, 2020. Retrieved December 5, 2023.
  31. ↑ Badman, Rob (March 22, 2023). "New exchange platform and Sydney Swans sponsor Bitcoin.com.au aims to be an easy crypto on-boarder". Stockhead. Retrieved November 23, 2023.
  32. ↑ "NEWEST BITCOIN EXCHANGE HITS THE MARKET: BITCOIN.COM.AU". Yahoo Finance. March 22, 2023. Retrieved November 23, 2023.
  33. 1 2 "Crypto exchange buys Bitcoin.com.au brand for $3m". Australian Financial Review. March 22, 2023. Retrieved November 23, 2023.
  34. ↑ "Hamilton Locke Advises Independent Reserve on Acquisition of bitcoin.com.au Domain - Hamilton Locke". March 27, 2023. Retrieved November 23, 2023.
  35. ↑ Thomsen, Simon (2023). "Crypto exchange Independent Reserve snaps up Bitcoin.com.au for $3 million". startupdaily.net. Retrieved November 23, 2023.
  36. ↑ "Australian exchange enlists PayPal as banks 'close ranks' on crypto". Cointelegraph. August 24, 2023. Retrieved October 14, 2025. The exchange has partnered with PayPal to enable an on-ramp that will give Independent Reserve's customers the ability to fund their crypto accounts directly with fiat from their PayPal wallet as well as using PayPal to withdraw funds from the crypto exchange... Przelozny noted that this was the first example of a partnership between PayPal and a cryptocurrency exchange in the APAC region.
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