Singapore’s first licensed crypto exchange for all investors has appointed a new chief executive officer for the city-state.

Independent Reserve names Lasanka Perera as CEO for Singapore, according to a statement, taking over the reins from managing director Raks Sondhi who will be leaving the firm in February to pursue other professional opportunities. In addition, Perera will also retain his role as group chief operating officer (COO).

Perera has nearly 20 years of markets and trading experience. He is the co-founder of Independent Reserve and has been its COO since its establishment in 2013, leading daily business operations in Australia and New Zealand.

Australia's Independent Reserve made its market debut in Singapore in January as the city-state's first licensed crypto exchange for all investors. Globally, it has over 250,000 customers, according to its website.