INDEPENDENT RESERVE SG PTE. LTD.

Crypto service provider · Singapore, Singapore

Independent Reserve SG is the Singapore arm of an Australian digital asset exchange, set up in late 2019 and granted a Major Payment Institution licence by the Monetary Authority of Singapore in October 2021. It runs a spot exchange in Bitcoin, Ethereum, Solana, XRP, USDC, USDT and other coins, an OTC desk for orders from USD 50,000, leveraged trading up to five times for eligible users, an API and a mobile app. Alongside the exchange it sells cross-border payments to companies, moving money between fiat currencies and stablecoins for supplier payments, inter-company transfers and payroll. Funding in Singapore is in SGD over PayNow, FAST and MEPS, and in USD over SWIFT.

Legal name: Independent Reserve SG Pte. Ltd.
Regulated by: Monetary Authority of Singapore (Major Payment Institution, licence PS20200517)
Licence confirmed: yes, on a regulator's own list
Established: 2019
Website: www.independentreserve.com/sg

Scores, 0 to 10

8.5On-ramp: buy crypto with fiat

Companies deposit SGD instantly by PayNow or FAST, larger amounts by MEPS and USD by SWIFT, trade on the order book from 0.5% down to 0.02% fees, and use an OTC desk from S$50,000 to over $50 million with HKD and EUR on OTC. · source

8.5Stablecoins (USDC, USDT and others)

Businesses fund in SGD or USD and pay suppliers, payroll and subsidiaries in USDC or USDT or in EUR, HKD, USD, AUD and VND from one account, with SGD auto-converted to stablecoin payouts. · source

8.0Crypto-friendly bank

Digital assets are the whole business: a MAS digital payment token licence, a spot exchange, an OTC desk from USD 50,000 and company accounts for crypto and Web3 firms. · source

8.0Crypto wallet and custody for a business

Company accounts under a MAS Major Payment Institution licence for digital payment tokens, with tiered multi-user access for employees and accountants, segregated client assets held 1-to-1 and fiat safeguarded with DBS; onboarding takes 1 to 2 business days. · source

8.0Off-ramp: crypto to fiat in a business account

Sales settle 24/7 on the order book or same day on OTC, with fiat paid out to company bank accounts in SGD and USD and OTC settlement in HKD and EUR. · source

8.0Bitcoin

Corporate accounts buy, hold, deposit and withdraw BTC under the MAS licence, and corporate accredited investors can trade BTC with up to 5x leverage; no BTC-backed loans were found. · source

7.5Ethereum

ETH is listed for spot and leveraged trading, custody and transfer in company accounts; yield products were announced in March 2026 for the second half of 2026 subject to approval, and no staking was live on the Singapore site. · source

7.0Asia-Pacific (SG, HK, AU, JP, KR)

Holds a MAS Major Payment Institution licence in Singapore with SGD funding over PayNow, FAST and MEPS and company accounts, but no licence in Hong Kong, Australia, Japan or Korea under this entity. · source

6.5Customer satisfaction

Trustpilot 3.9 out of 5 from 198 reviews, 60% five star and 28% one star, with withdrawal delays the most common complaint. · source

6.0Lowest fees

No account fee, free PayNow and crypto deposits, FAST withdrawal at SGD 1.50 and trading from 0.5% down to 0.02% by 30-day volume. · source

6.0Accept crypto payments

Its business payments page lets companies accept USDC and USDT from customers with real-time settlement into the Independent Reserve account, but settlement is in stablecoins, there is no checkout plug-in and no published acceptance fee. · source

5.5Fast digital onboarding

Personal and company accounts are opened online with 24/7 support, but no typical time to open a corporate account and no document list are published. · source

5.0Cross-border payments, FX and multi-currency accounts

Pays out in EUR, HKD, USD, AUD, VND, USDC and USDT settling in minutes, but fiat funding is only SGD and USD, no FX margin is published and standard SWIFT costs USD 25. Multi-currency payouts, stablecoin conversion, an OTC desk and API access, but no cash pooling, no hedging instruments and no host-to-host banking. · source

5.0Fintech companies that need a partner bank

Names Web3 platforms, fintechs and remittance and payment providers as target customers for the payments product, but offers no safeguarding accounts, BIN sponsorship or indirect rail access. · source

5.0Financial strength & stability

A MAS Major Payment Institution must protect customer funds and the firm says it serves over 500,000 investors, but it is not a bank, publishes no accounts and carries no credit rating. · source

4.0Online businesses: e-commerce and SaaS

Merchants can accept stablecoin payments and receive fiat payouts, but there is no card acquiring, no marketplace payout product and no local collection accounts. Global payroll and inter-company transfers are named use cases and there is an API, but no accounting integrations, no card and no revenue-based financing. · source

4.0Startups & VC-backed companies

Company accounts are open to Web3 platforms and fintechs, but there is no venture debt, no cap table tooling and no programme for pre-revenue companies. · source

4.0Foreign-owned & non-resident companies

Company accounts and payments are aimed at multinationals, SMEs and remittance providers, but the site publishes no list of accepted countries of incorporation or residence. · source

3.5High-risk verticals (iGaming, cannabis, adult, forex)

Digital assets, its own licensed vertical, are served in full, but the site publishes no policy on gambling, cannabis, adult or forex clients. · source

2.0Best interest on business balances

The fee schedule lists no interest on fiat or crypto balances and no treasury product; the only interest quoted is what a borrower pays on leveraged positions, 0.1% a day on buys. · source

2.0Trade, manufacturing & import-export

No letters of credit, guarantees, documentary collections or supply chain finance; the trade-related offer stops at paying suppliers. · source

1.5Business cards (Visa, Mastercard)

The product line is an exchange account, OTC desk, leveraged trading, API and payments; no debit or credit card of any kind is offered. · source

Sources

Built on public information and the BankStore team's own aggregated experience; no confidential client or partner data. Bank Index and BankStore are not banks. This is information, not financial advice.