Australian online broker SelfWealth to offer crypto trading

Australian online broker SelfWealth to offer crypto trading

SelfWealth, a share trading platform listed on the Australian Securities Exchange, is planning 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.

Our top trading bots

“This is off the back of research we’ve done, including answers from many of you. You want to access crypto, but you want it done in a safe and secure manner. You will be able to trade cryptocurrencies that have been vetted by us first,” SelfWealth wrote.

SelfWealth’s move into crypto investment comes amid the company’s transition efforts from a pure share trading platform to a “wealth creation platform,” the firm 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 that cryptocurrency is here to stay and are looking for trusted platforms to facilitate their investment decisions,” SelfWealth chief executive Cath Whitaker said.

Related: Investment app Betterment looking into long-term crypto offering, says CEO

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

Australia has been steadily emerging as a major crypto-friendly jurisdiction as the country’s major financial regulator, the Australian Securities and Investments Commission, took a supportive stance on developing the local crypto industry. The authority is now seeking public feedback on crypto-asset exchange-traded products, stating that it is aware of the growing demand for them in Australian markets.

Read on about Cointelegraph
Crypto world largely silent as little-known exchange announces plans to go public
One might assume that a firm with a name like "Bullish" would garner a lot of attention in announcing its intention to go public, especially given that...
Airbnb is exploiting its users, but decentralized alternatives are possible
Anybody who uses Airbnb knows that the company is resting on its laurels as the first mover in the home-sharing economy 1.0, but its dominance rests atop...
Crypto asset manager Valkyrie raises $10M in Series A round
Digital asset manager and Bitcoin (BTC) ETF proponent Valkyrie Investments recently concluded a $10 million Series A funding round, once again highlighting...
Top 5 cryptocurrencies to watch this week: BTC, ETH, UNI, ICP, AAVE
In a recent CNBC survey of a group of portfolio managers and equity strategists, only 6% of respondents expect Bitcoin (BTC) to reach $60,000 in 2021. A...
Bulls and bears fight over $34K Bitcoin price as $445M options expiry looms
Bitcoin (BTC) has been ranging from $30,400 to 36,400 for the last 12 days, and it has been difficult to pinpoint the exact reason for investors’ lack of...
‘Say something, Elon Musk!’ Dogecoin sheds $70B in market cap since SNL
Dogecoin (DOGE), Elon Musk's pet favorite cryptocurrency, has shed tens of billions of dollars in value since he publicly plugged it on mainstream TV.As...
Existing Indian law could impose 2% levy on crypto bought from offshore exchanges
According to local sources, the Indian Government’s 2% “equalisation levy” could be extended to crypto-assets purchased from off-shore exchanges. According...
IRS needs congressional authority to handle crypto, says chief
Internal Revenue Service chief Charles Rettig called out lawmakers for not taking the initiative on addressing the problem of many U.S. residents not paying...
Slam dunk? LeBron James NFT drop could break Top Shot records
Nonfungible token studio, House of Kibaa, has announced an auction of three “Legendary” NBA Top Shot NFTs depicting slam dunks from renowned pro basketball...
Bad omen? US dollar and Bitcoin are both slumping in a rare trend
The price of Bitcoin (BTC) was struggling to stay above $56,000 on April 20, which whale clusters pinpointed as a crucial short-term price level.Yet, the...
Is Bitcoin becoming the 'Google' of crypto as BTC market cap nears new milestone?
Holger Zschaepitz, a market analyst at Welt, emphasized that Bitcoin (BTC) is nearing the valuation of Google, as it heads toward $1.5 trillion in market...
Finance officials pour cold water on cryptocurrency amid Coinbase celebrations
Finance officials from both sides of the globe are taking the opportunity to criticize the value and utility of cryptocurrencies as media focus intensifies...
Jump Trading backs fan tokens startup Chiliz
By Anna Irrera and Tom WilsonLONDON (Reuters) - Proprietary trading firm Jump Trading has made an equity investment in Chiliz, the blockchain company that...
Do $100K–$300K Bitcoin call options signal a bullish BTC price path?
The open interest on Bitcoin (BTC) Dec. 31 call options between $100,000 and $300,000 reached an impressive 6,700 contracts, which is currently worth $385...
In Malta, a Decentralized Bank Will Appear, Supported By Crypto-Investors
One of the world’s most outstanding cyber-money bourses by trading value, Binance, appears to be among investors of a decentralized bank which is yet to...