After establishing cooperation with local crypto exchange BTC Markets, publicly-traded business SelfWealth (ASX: SWF) has purportedly become the first Australian share market trading platform to provide cryptocurrency investing. Investors will be allowed to trade five key crypto assets from Q2 2022, according to sources, subject to clearance from the regulator.
It is still not clear which crypto assets will be available for purchase until authorities give their approval, although market giants like Bitcoin (BTC) and Ethereum (ETH) are expected to be among them. Selfwealth is among one of the largest online trading platforms in Australia. It revealed its entrance into cryptocurrencies in July 2021, when the USD 8-billion-dollar firm released research revealing that 30% of its members had already invested in bitcoin, with another 38% planning to do so in the future.
BTC Markets CEO Caroline Bowler was also questioned if current worries of “crypto winter” will temper the excitement of retail crypto purchasers on the site, according to reports. Bowler said firmly that anyone who’s been around for the long haul understands that crypto is unpredictable. He also added that eyeing the crypto markets through the perspective of a few months is impracticable.
Bowler believes that the collaboration between SelfWealth with BTC Market adds to the credibility of cryptocurrency adoption on a large scale. While many large corporations still see cryptocurrency as a “risky” asset, SelfWealth, which has a customer base that includes wants to set itself apart by dispelling that notion.