Independent Reserve becomes the first Australian stock exchange in the Singapore market

The Monetary Authority of Singapore (MAS) granted BUT), the Australian crypto-trading exchange The Independent Reserve Independent Reserve، The necessary licenses to operate as a service provider for virtual assets (VASP), in the country.

According to Thursday's press release, the exchange said the license will allow it to accelerate growth efforts within Singapore, and the move follows the exchange already receiving preliminary approval from the regulator in early August.

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Under the Singapore licensing system, exchanges applying for a license are subject to a review of their policies, customer protection procedures, compliance structures, market manipulation safeguards and KYC (know your customer) requirements. key), among other stringent measures.

The CEO of Independent Reserve said:

“A well-regulated environment will benefit investors and stakeholders in the crypto industry.”

“Singapore currently has the clearest and most detailed licensing requirements in Asia.”

The Sydney-based stock exchange opened in 2013And it quickly developed into one of the most popular cryptocurrency exchanges in Australia, along with Coinjar exchanges CoinJar and Swift X Swyftx Coinspot.

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