Australian trading platform SelfWealth (ASX: SWF) has now reportedly become the first company in the Australian online trading sector to offer cryptocurrency investing. The publicly-listed company revealed this, after announcing a partnership deal with local crypto exchange BTC Markets, in a move that will undoubtedly help SelfWealth to meet up with ever-growing demands of crypto investments.
SelfWealth Taps BTC Markets To Offer Crypto Trading To Its Users
Speaking about the collaboration, CEO SelfWealth, Cath Whitaker says the company took its time before selecting the right crypto exchange partner. She then added:
“And in BTC Markets we have found a partner that we want to open up to our 120,000 active investing members”
Whitaker also said that the aim of this move is to make investing as easiest as possible. And this is especially true because moving between popular investment types usually requires investors, having access to multiple trading platforms.
Interestingly, BTC Markets is arguably one of the foremost digital currency exchanges in Australia. According to the exchange itself, no less than 325,000 Australians have traded over $21 billion on the BTC platform.
Meanwhile, BTC Markets chief executive Caroline Bowler has also spoken about the partnership. She says:
“Our research tells us that Australians view crypto trading as a way to build wealth and secure their futures”.
Whitaker added that a recent survey of SelfWealth members found 30% were already investing in crypto and 38% were intending to invest more in the future.
She added that this research was what initially prompted SelfWealth to start looking to add a crypto exchange.
What To Expect In 2022
According to Caroline Bowler, investors can begin trading at least five primary crypto assets from Q2 2022. This is despite the fact that work is still ongoing with regards to getting approval from Australian financial regulator AUSTRAC.
Although there are no official statements from SelfWealth or BTC Markets at press time, it might be safe to say that market leaders like Bitcoin (BTC) and Ethereum (ETH) will be among the 5 crypto assets that would be made available for purchase.