The CEO of Independent Reserve, Adrian Przelozny, explained that their recently formed partnership with PayPal will give investors more options and help reduce the potential problems related to banking restrictions on cryptocurrency in Australia.
The exchange has joined forces with PayPal to create a way for Independent Reserve’s customers to easily add money from their PayPal wallet to their crypto accounts. Additionally, they can also use PayPal to take out funds from the crypto exchange when needed.
Independent Reserve, a platform with 250,000 customers and around $1 billion in cryptocurrency holdings, has introduced a new method called an “on-ramp.”
This method assists customers who want to purchase cryptocurrencies such as Bitcoin, Ether, and Ripple. This service is also available through their bitcoin.com.au brand.
Adrian Przelozny, the CEO of Independent Reserve, mentioned that the new partnership provides more options for Australian cryptocurrency investors. It also helps to lessen the potential risks that might arise if other banks in the future decide to take a united stand against the crypto industry.
“We have been operating in an environment where the banking industry has been a bit hesitant to work with cryptocurrency exchanges,” said Independent Reserve CEO, Adrian Przelozny.
Peter Cowan, the managing director of PayPal Australia, explained that this partnership will make it easier for cryptocurrency investors in Australia to move their money to and from digital asset exchanges.
It will help to reduce the restrictions and complications that usually come with these types of transactions.
Also Read: Ledger and PayPal Join Forces to Serve US Crypto Enthusiasts
