Australian broker Selfwealth opens BTC markets to offer crypto first in the country

Australian broker Selfwealth opens BTC markets to offer crypto first in the country

It is expected that the Australian online platform Selfwealth will be the country's first traditional stock exchange broker that offers domestic customers cryptocurrencies.

According to a press release on Tuesday, the platform signed a contract with one of the longest running crypto exchanges in the country, BTC markets, to open self-wealth customers doors to keep digital assets under one roof.

"Currently the change between popular investments usually requires access to several trading platforms and for investors to move money several times," said Cath Whitaker, CEO from Selfwealth. "We wanted to make the investment in cryptocurrency as seamlessly as possible."

selfwealth customers can act five cryptos, subject to approval by the financial supervisory authority Austria, although the details that are selected that are selected are not yet announced.

"While the interface will be different, it still goes through the stock exchange, so no logistical or systemic difference," Caroline Bowler, CEO from BTC Markets, told Blockworks. "If you already have a self-wealth account, you don't have to set up a new BTC Market account ... that keeps all crypto, ASX, US and soon Singapore securities in one place."

The step goes back to the seven -month search from Selfwealth for a sustainable exchange partner who wanted to offer its customers crypto by the end of last year. The broker said he decided to pursue crypto after finding that more than 30 % of its members were already acting with digital assets.

The island state, which currently houses 800,000 crypto investors, is expected to introduce a new regulatory framework for payments this year, which will concentrate on the creation of a licensing regime for digital assets.

At the beginning of this month, the country gave the tax advisor Kova Tax a grant for the development of his crypto control indicator platform, which is another premiere because Australia begins to accelerate the pace in the introduction, regulation and formation of crypto.

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The contribution Australian Broker Selfwealth Taps Btc Markets to Offer Crypto in Country First is not a financial advice.