On the American market as well as on the international cryptocurrency market, Coinbase is a very popular crypto trading platform. Indeed, this crypto exchange being one of the oldest on the market, it tries somehow to stand up to its competitors.
Thus, Coinbase continues to expand its activities in several countries. The latest country targeted by this American company is Australia. Indeed, to expand its activities in the Australian market, Coinbase has found it useful to launch two new financial services tailored to its customers in Australia.
Two new additional financial services on Coinbase for Australians
The US-based digital currency exchange Coinbase has announced that it intends to strengthen its presence in the “Land Down Under”. This announced reinforcement will be done through two new options that will be available on its platform.
According to the general manager of the company Nana Murugesan, these two new features will allow Australians to carry out their transactions on the crypto market more serenely.
Indeed, according to him, Australians are among the first investors and users to massively adopt cryptocurrencies. It is for this reason that he calls them “wise investors”.
Going back to the new services, these are the PayID and Retail Advanced Trading features.
PayID is a feature that will make it easier for Australians to top up their accounts on the crypto trading platform via direct Australian dollar transfers.
As for Retail Advanced Trading, this is a feature that will allow local investors to access financial pricing instruments.
The peculiarity here is that these are low-volume instruments with a unified balance. For Australian users, these two new features are very beneficial.
However, Coinbase believes in giving them even more options in their trading operations. This is what justifies the customer support every day without interruption for the use of the platform in general and these two services in particular.
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Coinbase has made all regulatory arrangements in Australia
Coinbase is a company with a solid reputation in the cryptocurrency market. For the majority of investors in this sector, Coinbase is a reference. Recognizing this, the company makes no attempt to override or circumvent a country’s regulations in order to expand its business there.
Thus, before announcing the availability of these two new features on its platform, Coinbase has made the necessary arrangements.
In particular, the company worked closely with the financial authorities in Australia before integrating said services on its platform for Australians. And to strengthen its presence in the country, Coinbase has set up a local entity.
Moreover, Coinbase goes further by registering with the Australian Transaction Reporting and Analysis Center (AUSTRAC) in order to offer digital exchange services.
All this confirms the desire of the authorities in power in Australia to regulate the use of digital assets.
In the same vein, the Australian Federal Police has created a special unit in charge of cryptocurrencies. The objective of this special unit is to detect criminals who use cryptocurrencies to launder money.