Australian Online Broker SelfWealth To Offer Crypto Trading

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SelfWealth, an equity trading platform listed on the Australian Securities Exchange, plans to offer cryptocurrency trading as part of its 2021 roadmap.

On Monday, SelfWealth officially announced that the company will partner with an established and secure cryptocurrency exchange to offer crypto trading on its platform.

This is based on research we have done, including responses from many of you. You want to access crypto, but you want it to be done in a safe and secure way. You will be able to trade cryptocurrencies which we verified first, SelfWealth wrote.

SelfWealths is moving into crypto investing amid the company’s efforts to transition from a pure stock trading platform to a wealth building platform, the company noted.

According to a report by the Australian Financial Review, SelfWealth intends to support up to 10 major cryptocurrencies, including Bitcoin (BTC) and Ether (ETH) by the end of the year.

Australians have decided cryptocurrency is here to stay and are looking for trusted platforms to facilitate their investment decisions, SelfWealth CEO Cath Whitaker said.

Related: Betterment Investment App Examines Long-Term Crypto Offer, Says CEO

The announcement comes shortly after SelfWealth published a survey of 3,500 customers, which found that 30% of respondents have already invested in crypto. Another 38% reportedly said they plan to invest in digital assets.

Australia is emerging as a major crypto-friendly jurisdiction as the country’s main financial regulator, the Australian Securities and Investments Commission, has taken a positive stance on the development of the local crypto industry. The authority is now seeking public comment on crypto asset exchange traded products, saying it is aware of the growing demand for them in Australian markets.

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