Independent Reserve, an Australian cryptocurrency exchange, is exploring opportunities in Hong Kong as the city undergoes a regulatory overhaul to establish itself as a hub for digital asset businesses. The company plans to visit Hong Kong soon to study the upcoming regulations and assess the feasibility of setting up another office in Asia.
Adrian Przelozny, CEO of Independent Reserve, revealed the plans in an interview on Wednesday. The move comes as more firms examine Hong Kong’s efforts to create a center for virtual assets, which is in contrast to the US’s crackdown on the sector. Last week, crypto market data provider Kaiko announced plans to relocate its Asian headquarters to Hong Kong from Singapore.
Adrian Przelozny, chief executive of Independent Reserve, said in an interview Wednesday that the exchange will be visiting Hong Kong shortly to:
“learn more about the upcoming regulations and really look more closely at that as a potential base for another office in Asia”
Independent Reserve, which is based in Sydney, recently launched a new platform, Bitcoin.com.au, after acquiring the domain name for A$3 million ($2 million) last year. The company is also a licensed virtual asset service provider in Singapore, which remains a top priority for the firm.
Przelozny said during the interview that the company also operates as a licensed virtual-asset service provider in Singapore, which remains a “very high priority.”