SelfWealth (ASX: SWF), a publicly listed company, has become the first online equity trading platform of Australia that will offer cryptocurrency investments after declaring the deal with a local cryptocurrency exchange bitcoin Markets.
Caroline Bowler, BTC Markets CEO, said in an interview with TBEN, that the investors now can trade in five core crypto assets. This will start in the second quarter of 2022 since there is pending approval from the Australian financial regulator AUSTRAC.
BTC market and SelfWealth are unable to say anything regarding which crypto asset will be available for purchase. They said they cannot comment on it until they get approved by the regulators. But, likely, the market leaders like ETH (Ethereum) BTC (Bitcoin) will be there.
SelfWealth is one of the largest online brokerage platforms in Australia. Recently announced their crypto journey from the previous year with $8 billion brokerages and released a report that highlighted 30% of their users were already investing in cryptocurrency. The report also mentioned that 38% of the users were looking forward to future investments.
When they were asked about the possible crypto winter if it will bring down the enthusiasm of the crypto retail buyers in the market. Bowler replied with full confidence, whoever has been around the crypto market for a long time knows how volatile crypto is. Bowler also said that judging the crypto market just by looking at the horizon is pretty impractical.
