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HomeCryptoAussie trading platform SelfWealth to offer crypto trading to its 325K users

Aussie trading platform SelfWealth to offer crypto trading to its 325K users

Listed company SelfWealth (ASX: SWF) is reportedly the first Australian online equity trading platform to offer cryptocurrency investments after announcing trading with the local cryptocurrency exchange BTC Markets.

In an interview with Cointelegraph, BTC Markets CEO Caroline Bowler said investors will be able to trade five major crypto assets from the second quarter of 2022, awaiting approval from Australian financial regulator AUSTRAC. ..

Neither SelfWealth nor BTC Markets could provide comments on which crypto assets can be purchased until regulatory approval, but Bitcoin (BTC) And Ethereum (ETH) Be among them.

Selfwealth, Australia’s fourth largest online securities platform, Announced a trip to cryptocurrencies last July A $ 8 billion broker has released a report outlining that 30% of users have already invested in cryptocurrencies and another 38% are considering investing in the future.

When asked if Current fears of “crypto winter” Bowler confidently replied that it would undermine the enthusiasm of retail crypto buyers on the platform.

The bowler used his experience to further mitigate his potential fears and add:

“I’ve had a crypto winter before, but I don’t think that’s the case now … what we’re seeing now is more than a full-fledged crypto winter. Is also a reasonable response to market conditions. “

Rather than worrying about the expected volatility of the crypto market, Bowler said that the most striking thing from a trading perspective was “the wall of interest on the part of the buyer … no one in the wider market really wants to sell.” Said.

Bowler said the partnership between SelfWealth and BTC Market justified the large-scale adoption of cryptocurrencies.

Related: Coinbase partners with OneRiver to roll out a new institutional platform

Cryptocurrencies are still considered a “dangerous” asset by many large companies, but SelfWealth has a customer base consisting of self-managed superfunds (SMSFs) and more traditional investors, a misunderstanding. We are trying to differentiate ourselves from the crowd by calming down.

The bowler did not hesitate to emphasize the scale of the opportunities that Self Wealth and BTC Markets were taking advantage of. She added: [crypto] It will become a pillar of Australia’s financial services industry in the next three to five years.Financial services make up 8% of Australia It is reasonable to assume that it is total economic production and that cryptocurrencies support 10-15% of it. “