Aussie crypto exchange hints interest in Hong Kong base

The CEO of Independent Reserve has hinted that the Aussie crypto exchange may establish a presence in the city of Hong Kong. During a recent interview with Cointelegraph, Adrian Przelozny revealed that he and his team had “been looking pretty hard” at the city and that its “friendly” licensing regime makes it a worthy destination to set up shop.

However, Przelozny cautioned that there are other factors to consider and that any prospective move will be carefully weighed before any decision is made. Independent Reserve, which launched in 2013, is the first cryptocurrency exchange in Australia and New Zealand to offer bitcoin and other digital assets to both retail and institutional market.

The exchange has become hugely popular with the former due to its reputation for a high level of trustworthiness and safety and its advanced trading tools. It is regulated by the Australian Transaction Reports and Analysis Centre (AUSTRAC) and is compliant with the government’s cryptocurrency regulations.

Regarding Hong Kong, it is clear that Przelozny and his team are aware of the many opportunities that being based in the city can bring. As a major global financial hub, it is home to a host of opportunities, most notably a healthy appetite for digital assets. In addition, Hong Kong boasts a pro-innovation stance and regulations that are friendly to the emerging digital asset sector.

This ultimately paints a picture of a city that is embracing blockchain technology and digital assets in general, something that could not have been said just a few years ago. Any move by Independent Reserve to set up shop in Hong Kong would, therefore, underline the city’s friendly attitude towards the emerging sector and draw attention to the possibilities that are available.

Whether this potential move will come to fruition or not remains to be seen, but Przelozny’s revelation certainly piques the interest of the crypto community in both the city and the exchange.