Crowd2Fund prepares to cross fintech bridge to Australia

Leading P2P lending platform Crowd2Fund are launching an Australian office by becoming one the first UK-based companies to utilise the new ‘FinTech Bridge’ between the UK and Australia.

The Enhanced Cooperation Agreement, signed in March 2018 between the FCA and the Australian Securities and Investments Commission (ASIC), will make it easier for regulated FinTech companies in both Australia and the UK to start trading in either market.

Key benefits of the Bridge include the speeding up of company licensing between the two territories, as well as more strategic collaboration between the FSA and ASIC in order to grow the respective markets of each country.

Michael Ward, the Director General for DIT Australia, says that the FinTech Bridge couldn’t have come at a better time.

“The FinTech Bridge, as a tool for ease of market-entry, is the result of a very strong demand from UK and Australian companies to access each other’s markets. It’s great to see the hard work of the FCA, ASIC, Department for International Trade, Australian and HM Treasuries pay off by the speed of which companies are now using this device to further grow their businesses.”

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Source: Crowd2Fund prepares to cross fintech bridge to Australia