Independent Reserve Plans Hong Kong Office
Independent Reserve, an Australian cryptocurrency exchange, is one of Singapore’s eleven Major Payment Institutions, a licenced corporation authorised to provide digital payment token services in the Lion City. The firm intends to create an office in Hong Kong and is considering a “few other” Southeast Asian states.
In an interview with Forkast, the exchange’s Singapore chief executive officer Lasanka Perera stated that the city-state’s prohibition on crypto exchanges’ public advertising has resulted in a 90% decline in monthly retail customer acquisition. The exchange has been focusing on institutional customers, such as family offices and accredited investors, and is trying to expand its offerings to them. Independent Reserve hopes to double its daily trade volumes and expand its user base by 50% in Singapore by the end of this year.
(With inputs from Shikha Singh)
You need to login in order to Like
