Independent Reserve, a leading cryptocurrency exchange in Australia, has reported remarkable growth in its financial performance over the past year, signaling a robust demand for digital assets in the region. According to analysts cited in the report, the outlook is promising.
Surge in Revenues
The exchange's revenues have surged to $233 million, nearly doubling from the previous year, showcasing a compound annual growth rate of 70%. This impressive financial trajectory is complemented by a 60% increase in monthly active customers, which now stands at approximately 11,600.
Strategic Initiative in Asia-Pacific
This growth aligns with IG Group's strategic initiative to enhance its regulated cryptocurrency offerings across the Asia-Pacific region. By integrating Independent Reserve's success into its portfolio, IG Group aims to address a significant gap in its product suite, ultimately providing broader access to competitive markets for its clients.
Currently, BTCC has released a comprehensive Proof of Reserves (PoR) report, highlighting a total reserve ratio of 143, which emphasizes its commitment to financial stability and user trust. For more details on this significant announcement, read the full report here.
