Independent Reserve

Last updated
Independent Reserve
Company type Private
FoundedJune 2013;11 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] [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]

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, [25] then purchased from Banxa by Independent Reserve in 2023.

On 20 June 2016, Bitcoin.com.au partnered with BlueShyft. [26]

On August 2, 2017, the platform raised $815,000 in series A funding to expand globally and added Ethereum and XRP to its exchange. [27] [28]

On July 13, 2018, Ben Ingram, an Australian PwC director, became the new CEO. [29]

In June 2020, the company partnered with Australia Post, making Bitcoin purchases available at any post offices across Australia. [30] [31] [32] In March 2023, Bitcoin.com.au became a major sponsor of the Sydney Swans. [33] [34] [35] [36] 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. [35] [37]

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. [38]

Related Research Articles

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 accept credit card payments, wire transfers or other forms of payment in exchange for digital currencies or cryptocurrencies. A cryptocurrency exchange can be a market maker that typically takes the bid–ask spreads as a transaction commission for its service or, as a matching platform, simply charges fees.

<span class="mw-page-title-main">Cryptocurrency</span> Digital currency not reliant on a central authority

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References

  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.
  25. ↑ "One group of Australians is making more money from Bitcoin than everyone else". Business Insider. Retrieved 2023-12-05.
  26. ↑ Blueshyft (2016-06-23). "Sitting down with our new partner, bitcoin.com.au". Medium. Retrieved 2023-11-23.
  27. ↑ "State Library of Queensland". www.slq.qld.gov.au. 2 August 2017. Retrieved 2023-11-23.
  28. ↑ "This Australian Bitcoin exchange startup just raised $815,000 to expand globally and add Ethereum to its platform". 2018-03-19. Archived from the original on 2018-03-19. Retrieved 2023-12-05.
  29. ↑ "An Australian PwC director has left to become CEO of a crypto advisory business". Australian Financial Review. 2018-07-12. Retrieved 2023-11-23.
  30. ↑ FinTech, Australian (2020-06-23). "Australia Post and Bitcoin.com.au launch a new partnership to pay for Bitcoin at Post Offices". Australian FinTech. Retrieved 2023-12-05.
  31. ↑ "Australia Post Now Lets Customers Pay for Bitcoin at Over 3,500 Outlets". Yahoo Finance. 2020-06-26. Retrieved 2023-12-05.
  32. ↑ Roy, Jeff. "Independentreserve.com/au" . Retrieved 22 April 2021.
  33. ↑ Badman, Rob (2023-03-22). "New exchange platform and Sydney Swans sponsor Bitcoin.com.au aims to be an easy crypto on-boarder". Stockhead. Retrieved 2023-11-23.
  34. ↑ "NEWEST BITCOIN EXCHANGE HITS THE MARKET: BITCOIN.COM.AU". Yahoo Finance. 2023-03-22. Retrieved 2023-11-23.
  35. 1 2 "Crypto exchange buys Bitcoin.com.au brand for $3m". Australian Financial Review. 2023-03-22. Retrieved 2023-11-23.
  36. ↑ "Hamilton Locke Advises Independent Reserve on Acquisition of bitcoin.com.au Domain - Hamilton Locke". 2023-03-27. Retrieved 2023-11-23.
  37. ↑ Thomsen, Simon (2023). "Crypto exchange Independent Reserve snaps up Bitcoin.com.au for $3 million". startupdaily.net. Retrieved 23 November 2023.
  38. ↑ "MSN". www.msn.com. Retrieved 2023-12-05.
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