Australian cryptocurrency exchange Independent Reserve has partnered with PayPal to offer customers a fiat on-ramp and withdrawal option amid increasing bank restrictions against crypto exchanges. CEO Adrian Przelozny said the move gives crypto investors extra choice and helps mitigate future risks should banks “close ranks against the industry”. Five major Australian banks, including Bendigo Bank, Commonwealth Bank, National Australia Bank, Westpac, and ANZ, have recently imposed restrictions on customers depositing and withdrawing cryptocurrencies.
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