Another big name announces to join the cryptocurrency market. Australian-based online trade broker SelfWealth announced that from now on it will offer crypto trading services. The company has decided to shift from a share trading platform to a “wealth creation platform.” SelfWealth, a listed company on the Australian Stock Exchange in its 2021 roadmap decided that the company will soon be offering crypto trading.
The company announced that “we have conducted the detailed analysis and decided to honor our customer’s request to go for crypto operations within the country.” Since the majority of Australians want the company to offer crypto trading in a safe and secure manner this decision will be welcomed by Australians.
A report written by the Australian Financial Review said, SelfWalth initially begin operations by supporting 10 major cryptocurrencies. Including Bitcoin, Ether, and Stablecoins by the end of financial 2021.
Australian people seem to be overjoyed by these announcements. Australian crypto experts tweeted that crypto is here to stay, if a person can’t see this, he can’t be a normal person.” Crypto traders over the past couple of years we’re looking for a secure local crypto platform to invest in the market.
The crypto developments of the past three years have predicted that Australia has emerged as the safe haven for crypto trading. Earlier this year, the Australian Securities and Investments, the country’s largest financial regulatory authority, took digital assets friendly steps in regard to crypt trading in the country.
The Australian Security and Exchange Commission also seeks the public’s opinion on the matter which is positively crypto supported. There is a growing interest in crypto investment in the country. SelfWealth sees the crypto market as a bullish market. The platform is now working on developing working relationships with some of the world’s biggest crypto exchanges to make crypto transparent and accessible to Australian citizens. The CEO of SelfWealth, Cath Whitaker described the company as “the first-ever Australian company offering crypto and share trading at the same time.”
Other competitors like Raiz, offer investors a fixed return on their investment, unlike SelfWealth that will actually allow crypto exchange service. There is a huge difference between both services, which sets SelfWealth apart from the other market traders. However, SelfWealth has not announced any final date for the initiation of its crypto trade. The Australian Security and Exchange Commission seems to be developing the rules and regulations regarding crypto trading in the country.
This is another breakthrough for the crypto community. Crypto exchanges have been under subtle regulatory processes all across the globe this will change the digital trading dynamics in near future. For emerging markets, the digital framework in the future. The evolution of fast-paced crypto trading is the future of the digital world.