- Paves the way for the exchange to harness growth in Asia’s burgeoning Web3 and digital assets sector
- Unveils “Soar”, a specially commissioned artwork by Genine Tham from Extra•Ordinary People, as a tribute to inclusivity and local communities
Singapore, 5 December 2024 — Independent Reserve (IR), Singapore’s first licensed cryptocurrency exchange for all investors, has notched another milestone in its expansion plans with the opening of its new office today.
Since its inception here in 2019, Independent Reserve has made considerable strides in growing its presence, anchored on innovation, compliance and governance. This latest move marks IR’s steady growth in Singapore amidst a rapidly evolving Web3 and digital asset sector in Southeast Asia, reinforcing its reputation as a trusted cryptocurrency exchange.
Located in the heart of Singapore’s Central Business District, the new premises reflects IR’s continued commitment to Singapore as a strategic hub in this region. It also underscores IR’s ongoing commitment to nurturing strong relationships with key stakeholders – including regulators, partners and clients, and reaffirms IR’s lasting connections within the communities it serves as a responsible corporate citizen.
Guided by the theme “Connection, Collaboration, Conviction” for this joyous occasion, IR’s new open-design office environment inspires creativity, collaboration and a constant exchange of ideas, laying the foundation for its continued success. More than just an office, the new space is designed to foster IR’s culture of mateship, and pursuit of excellence while doing things the right way.
Lasanka Perera, CEO of Independent Reserve Singapore said: “This is our commitment to Singapore as a growing hub for digital assets, and one where we see exciting possibilities for growth. We’ve built a solid foundation here in the last 4 years, and as we continue to grow, we are investing in the people and infrastructure that will help us scale. Having the right team is essential to what we do, and we’re thrilled to provide a great environment where our people are not only motivated to do their best at work every day, but also become the best version of themselves.”
Connection: Making An Impact On Local Communities
As part of the exchange’s corporate responsibility initiative “Better Together”, which draws on the power of partnership for greater societal good, IR supports the dreams and aspirations of everyday Singaporeans through meaningful collaboration. By providing a platform for individuals to achieve their full potential, IR is committed to doing its part to create lasting, positive contributions to society.
Through “Better Together,” IR has partnered with Shannon Tan, Singapore’s first Ladies European Tour (LET) winner and Golf Olympian, to support her sporting journey as she continues to achieve new milestones and inspire the next generation of athletes. IR is also supporting local charity Extra•Ordinary People to raise awareness and support for youths with special needs to lead independent and fulfilling lives.
“Soar”: Embodying Diversity and Community
To commemorate the office opening, IR unveiled a specially commissioned art piece by Genine Tham, an artist with Global Developmental Delay at Extra•Ordinary People’s Creative Lab.
Known best for using her hands and feet to move paint across the canvas, Genine’s courageous voice can be heard through her art.
In this landmark piece co-created with Perera, Genine depicts the wings of Independent Reserve’s logo through a collage of multiple paintings. Assembled carefully in an assortment of diverse colours, “Soar” embodies the power of diversity and community. The artwork will grace IR’s new office as a tribute to inclusivity, and a symbol of Genine’s journey of perseverance and creativity.
“Genine’s artwork is a testament to the potential within our beneficiaries when given the right opportunities and a nurturing environment,” said Ivan Chin, CEO of Extra•Ordinary People. “Thanks to Independent Reserve’s commitment to uplifting local communities, we celebrate the beauty of diversity and the power of inclusion through this beautiful piece, ‘Soar’. Extra•Ordinary People is privileged to help nurture the creativity within individuals and is inspired to continue building a community where everyone has the chance to shine.”
“Community partnerships are key to our corporate values,” said Perera. “Working with outstanding parties like Genine, Extra•Ordinary People and Shannon this past year has been so rewarding. To us, it’s all about elevating the voices of those who might otherwise go unheard and supporting initiatives that create tangible change, so that we can make a meaningful impact.”
Collaboration: Leveraging The Power of Partnerships
The exchange continues to emphasise the power of collaboration with its trusted partners, peers, associates, and vendors.
In Singapore, IR has embarked on strategic initiatives with Fireblocks on enhancing digital asset security and custody solutions, DBS Bank on advancing custodial services, and the Association of Cryptocurrency Enterprises and Startups Singapore (ACCESS) to promote industry best practices and showcase its commitment to innovation and trust.
These alliances, along with affiliation with industry partners such as the Singapore FinTech Association (SFA), are at the heart of IR’s success as it taps into a collective effort to transform cryptocurrency technology into secure, robust and regulated financial services.
Conviction: Singapore as a Regional Hub
Singapore continues to be an essential pillar of Independent Reserve’s operations in Asia. With its robust regulatory framework and strategic position within Southeast Asia’s growing financial ecosystem, Singapore is an ideal base for the exchange’s expansion.
The city-state’s progressive stance on digital asset regulations has also provided a stable and supportive environment for growth, which is crucial as IR navigates the complexities of the digital asset market.
As Independent Reserve looks to 2025 and beyond, the focus remains on scaling its operations in Singapore. Meanwhile, the exchange will also explore new markets in the region, where regulatory frameworks are evolving to support the Web3 and digital assets industry.
“This is an exciting time for us,” added Perera. “Asia is a dynamic, thriving region that presents immense potential both in the short term and for future growth. As we continue to build our suite of offerings and grow the business from Singapore, our new office will be a central hub for driving our expansion in this part of the world.”
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About Independent Reserve
Founded in 2013, Independent Reserve is Singapore’s trusted cryptocurrency exchange. Independent Reserve is the first exchange licensed by the Monetary Authority of Singapore to provide a secure platform for trading and investing in digital assets. With a focus on trust and safety, the exchange serves discerning traders and investors by offering competitive fees, advanced trading tools, and comprehensive educational resources. Adhering to the highest standards of governance, compliance, and security, Independent Reserve empowers institutions and individuals in Singapore to confidently navigate the world of cryptocurrencies.
About Shannon Tan
Shannon Tan is a professional Singaporean golfer on the Ladies European Tour (LET) and Singapore’s first Golf Olympian. Starting her golfing journey at just five years old, Shannon went on to compete in various prestigious international amateur golf tournaments throughout her junior career. Her talent earned her a full-ride scholarship at Texas Tech University, where she achieved a T-4 finish at the NCAA Division I golf regionals. As an amateur, she also claimed victory at the 2023 Singapore Ladies Masters, a professional event on the China LPGA Tour. Shannon turned professional in January 2024, finishing second at the Webex Players Series Murray River in her debut.
In February 2024, Shannon made history as the first Singaporean to secure a full LET card, winning her LET debut at the Magical Kenya Ladies Open. She notched four Top-10 finishes, and concluded her remarkable rookie season ranked 6th on the Order of Merit, earning a spot in the final stage of the LPGA Q-Series.
At just 20 years old, Shannon is passionate about inspiring the next generation. She aspires to be a role model for young athletes, encouraging them to pursue their dreams both on and off the golf course.
About Extra·Ordinary People
Extra•Ordinary People was established in July 2017 as a registered charity with IPC (Institute of Public Character) status. Our core mission is to champion inclusivity and support persons with special needs through community-driven initiatives. From early childhood to adulthood, we journey alongside individuals and their families, fostering independence and actively working towards a more inclusive society. We call ourselves Extra•Ordinary People because we are all ordinary people who make the conscious decision to go the extra mile.
