The mateship advantage: How IR built a high-performance culture in Singapore’s crypto sector

In the fast-paced and often turbulent world of digital assets, Independent Reserve (IR) Singapore stands out not just for its pioneering role in regulated cryptocurrency exchange but for its deeply ingrained, people-first culture. At the helm is CEO Lasanka Perera, a leader who embodies his philosophy of “mateship, teamwork, and optimism,” creating an environment where, as he puts it, “good people feel safe, trusted, and inspired to grow.”

This commitment to its people has not only garnered IR recognition as a Great Place to Work in Singapore, but it also serves as an engine for business growth and innovation.

The foundation of leadership: Care and mateship

Perera’s leadership philosophy is simple yet profound. “Leadership is less about titles and more about looking after your team members,” he tells HRM Asia. This principle translates into a culture where genuine care and mutual support are paramount. “Mateship, to me, is simple: you look out for one another,” he explains. “That spirit is alive at IR—no lone heroes, no room for egos. People step in for each other and make sure no one feels like they’re doing this alone.”

This ethos is evident in the organisation’s vibrant workplace, which actively encourages team sports like Hyrox, community events like the Standard Chartered Singapore Marathon, and weekly pickleball sessions. These initiatives, inspired by Perera’s belief in “showing up to become better versions of ourselves and celebrating IR’s Australian roots,” foster a spirit of camaraderie that extends beyond the office walls. The team motto, “Hard work wins games, teamwork wins championships,” encapsulates this collective drive.

However, operating in the digital asset sector presents unique challenges, with its intense pace and constant regulatory pressure. Yet, IR maintains a strong focus on psychological safety and employee wellbeing. Perera believes that “people do their best work when they feel safe, trusted, and supported.”

To achieve this, IR keeps its hierarchy light, fostering a sense of partnership rather than rigid authority. “We work as teammates, not bosses and subordinates,” he states. “When people feel they can be honest, ask questions, or push back without thinking about titles, collaboration becomes easier.”

This trust is further solidified by a commitment to integrity. “Doing things the right way is a big part of how we build that trust,” he emphasises. “If we stay grounded in that principle, even when the pressure is high, people know what they can expect from us.” This consistency provides clarity and empowers the team to act with courage, even amidst uncertainty.

The organisation also prioritises physical and mental health. “Sports and wellbeing are a big part of our culture,” Perera notes. “Healthy habits bring good energy into the workplace, and good energy lifts everyone.” This holistic approach ensures that high performance never comes at the expense of employee health or morale, as Perera firmly believes that “the work we do matters, but the people doing the work matter more.”

Cultivating future-ready leaders

Looking ahead, Perera identifies adaptability, sound judgment, and a sense of purpose as crucial for the future workforce, particularly amid rapid advances in AI. “I look for people who stay curious and steady when the context changes. You don’t need to have every answer, but you do need to stay open,” he advises.

For an industry built on trust, sound decision-making is paramount. “In a high-trust industry like ours, the ability to pause, ask the right questions, and make considered decisions goes a long way,” he explains.

Ultimately, Perera stresses the importance of purpose. “When you understand why your work matters and who it helps, you show up differently.” This sense of direction keeps teams grounded and motivated, even as the landscape continues to evolve.

READ MORE: “Curiosity drives real change”: Why IKEA Singapore’s retail pivot starts with a leadership mindset

 He rejects the notion that leadership is a status symbol, instead defining it as a custodial duty. “Being a leader is a privilege,” he asserts. “Leadership is an act of care. It’s about looking after the people who look after the work.” He views this as a significant responsibility, recognising that “most of us spend more of our waking hours at work than anywhere else, so we have a responsibility to make that time feel safe, meaningful, and purposeful.”

This “care” manifests in everyday behaviours. “How you show up under pressure. How you listen. How you treat people when things aren’t going well. Those simple, everyday behaviours shape the culture far more than any big announcements ever will,” he points out.

He also highlights the importance of bringing positive energy to the workplace. “I believe a leader who brings positivity, who lifts the room instead of weighing it down, makes hard days easier for everyone.”

For aspiring HR and business leaders, Perera’s advice is clear: “If emerging leaders anchor themselves in that one principle—lead with care—everything else tends to fall into place: stronger teams, better decisions, and a culture people are proud to be part of.”