Coinbase incorporates in Australia expands retail options
- Coinbase the biggest cryptocurrency exchange in the US has said that it will now serve retail customers in Australia.
- This will make it easier to buy, sell, and trade digital assets.
- Customers will also have access to chat support 24 hours a day, 7 days a week.
The biggest cryptocurrency exchange in the U.S., Coinbase, has said that it will now serve retail customers in Australia. This will make it easier to buy, sell, and trade digital assets.
Coinbase entered the Australian market for the first time in 2016, letting people there buy Bitcoin and Ethereum. The company said it will be adding PayID so that Australians can deposit money directly from their bank accounts.
PayID is a payments infrastructure built by the Australian financial services industry and the Reserve Bank of Australia. It lets people link their phone number or email address to their bank account so they can get payments.
Australians will find it easier to buy, sell, and trade cryptocurrency through Coinbase. Now with PayID support allowing AUD deposits and withdrawals, access to over 200+ crypto assets with Advanced Trading tools, security features, and chat support available 24/7. pic.twitter.com/1HeSjUtN5u
Also, Coinbase is releasing Retail Advanced Trading, a new tool that will give Australian customers who have signed up for the service access to powerful trading tools with a single balance and chat support 24 hours a day, 7 days a week.
“Aussies were some of the world’s earliest adopters of digital currencies, and they are savvy investors,” the exchange said in a blog post. “This is because Coinbase was one of the first places Australians put their cryptocurrency investments on. Now, we want to make their use of Coinbase even better.”
“Australia is a hotbed of fintech innovation,” the exchange said, so the company “looked hard” to learn more about the market.
Coinbase launches Australian entity
Coinbase said that it has set up a local company (Coinbase Australia Pty Ltd) and signed up with the Australian Transaction Reports and Analysis Centre (AUSTRAC) to offer services for exchanging digital currencies. This is to support its presence in Australia.
“At Coinbase, we believe in collaborating with governments on initiatives related to blockchain technologies, Web3, and digital assets,” said the exchange, adding that it prioritised regulatory compliance “from the earliest days of the company.”