The Australian cryptocurrency exchange Independent Reserve intends to expand its influence in Southeast Asia and is considering opening an office in Hong Kong.
These plans were shared by the head of the company, Lasanka Perera.
"Independent Reserve is one of Singapore's most important payment institutions, but restrictions imposed by the city-state on public advertising of cryptocurrency exchanges have contributed to a sharp decline in the number of monthly retail clients, so the exchange has taken several measures to expand its services in order to increase its user base," Lasanka Perera told Forkast.
While Singapore is the exchange's first market outside of Australia, Independent Reserve is exploring ways to target the Hong Kong digital asset market as well as other jurisdictions in Southeast Asia.
Independent Reserve also plans to open an office in Hong Kong, a major financial center with developed capital markets, within a few months, after which the exchange will make every effort to become regulated by applying for a license to operate in the city-state.
In addition, Hong Kong is the gateway to Greater China, which offers great opportunities for the company, according to Lasanka Perera.
As part of its upcoming plans, the exchange is hiring Chinese-speaking staff in its Singapore and Australian offices.
Independent Reserve was founded in 2013 and is headquartered in Sydney. The exchange is a member of Blockchain Australia, an official partner of Iress and Bloomberg. Throughout the platform's history, there has not been a single case of fraud, unresolved conflict, or client default.
