Independent Reserve, a licensed crypto exchange in Singapore, announced the addition of the PayNow service to its platform, aiming to simplify and secure the process of Singapore Dollar (SGD) deposits for its users.

With the integration of PayNow, users can now deposit up to S$200,000 with zero fees by scanning a PayNow QR code. This enhancement complements the existing options for SGD deposits via FAST transfers and USD deposits through SWIFT.

The platform also offers a streamlined customer registration and verification processes, utilising SingPass for convenience.

Independent Reserve had recently partnered with RelayPay, enabling its customers in Australia and New Zealand to issue invoices and accept payments in various cryptocurrencies.

Earlier in August 2023, Independent Reserve had incorporated PayPal into its offering for a simplified deposit and withdrawal process.

Lasanka Perera, CEO of Independent Reserve Singapore said,

“Seamlessly integrating our wallets with PayNow will bring greater convenience and improve the overall user experience. This also aligns with our mission of providing a safe and secure way for the mainstream adoption of crypto, as well as the growing crypto and Web 3.0 community in Singapore.

PayNow is just one of many enhancements to help optimise our customers’ journeys, and we’ll definitely plan for more products and improvements in the future.”

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