Independent Reserve

Independent Reserve
Company typePrivate
FoundedJune 2013 (2013-06) [1]
FounderAdrian Przelozny, Adam Tepper
Headquarters
Sydney, New South Wales
,
Australia
Area served
36 countries
WebsiteIndependent 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]

History

Independent Reserve was founded in June 2013[5][6] by Adrian Przelozny and Adam Tepper. 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)
Websitehttps://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.

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. ^ a b "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.
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