Aussie cryptocurrency exchange to trial BPAY’s Osko
Cryptocurrency exchange BTC Markets is trialling BPAY’s Osko service as a way to speed up conventional fiat deposits from customers. The company said it would support Osko, which runs as an overlay on Australia’s new payments platform (NPP), which went live in mid-February. The billion-dollar NPP allows banks to send payment messages in real time to each other via the Reserve Bank. In a brief statement, BTC Markets said it would trial Osko for deposits only, but that it expected the service to also support withdrawals within a few months. Osko presents an opportunity for cryptocurrency exchanges to support much faster deposits of fiat currency into their ecosystems, which can […]
Coinspot receives approval to become Australian-based crypto exchange
CoinSpot has announced they have been successful in their application to be registered by AUSTRAC to provide exchange services for crypto.
First Australian digital currency exchange regulated: Independent Reserve
Independent Reserve, the Australian digital currency exchange, yesterday became the first Australian exchange of its kind to be regulated. Independent Reserve is the first exchange to be regulated by the Australian Transaction Reports and Analysis Centre (AUSTRAC). Set up in 1989, AUSTRAC ensures Australian institutions conform to the required standards around Counter-Terrorism Financing and Know Your Customer rules. CEO Adrian Przelozny said the regulation represented a huge leap forward for the local digital currency industry. “We have been lobbying for increased regulation since we opened for business in 2014,” he said. “We passionately believe that the digital currency economy will – and should – become just another part of the mainstream […]
Digital Currency market in Australia grows as trading on crypto-exchanges tops AU $3.9 Billion in 2017
Australia’s digital currency market is booming. This is according to a report by the Australian Digital Commerce Association (ADCA) and Accenture that tallied the numbers for 2017. During the year, over AU $3.9 billion was traded on cryptocurrency exchanges with more than 300,000 active traders. Unsurprisingly, Accenture / ADCA said the majority of traders were under the age of 40. Even more telling is the information that 40 percent of cryptocurrency customers are aged 18 to 29. The most popular digital currency was Bitcoin with AU$1.86 in volume followed by Ethereum with AU $712 million in trading. The research also revealed that crypto is creating jobs. Employment across the cryptocurrency […]
International transfer provider OFX launches developer portal with international payments API
ASX listed foreign currency exchange company OFX (formerly OzForex) today announced the launch of a developer portal, designed to provide the global developer community with turn-key access to the company’s new Payments API, with access to a 24/7 support team. OFX continues to lead the Australian Fintech industry by launching an International Payments API on a self-serve developer platform. Skander Malcolm, CEO and Managing Director at OFX, explained why the portal demonstrates the brand’s commitment to continuous advancement in the tech, product and payments space; “As the world moves to a place where automation, scale and efficiency are a basic need, the OFX team are striving to build products which […]
Digital currency exchange opens Australia’s first OTC desk for institutions
Independent Reserve, the Australian Digital Currency exchange, has opened Australia’s first over-the-counter trading desk for institutions wanting to make large digital currency trades. CEO Adrian Przelozny said the lack of block trading venues had been a barrier for institutions to participate in digital currency investment. “Digital currency markets are just like any other asset class, in that when the market sees a big trade coming through it will move the price against whoever is making that trade,” he said. “In equity markets they solve that problem with dark pools and sales trading desks, but there is no digital currency equivalent in Australia as yet. By establishing an OTC desk with […]
Ookami and National Currency eXchange to share IP, produce new digital asset technology
Ookami (ASX: OOK) has edged further into the cryptocurrency space after securing a collaboration agreement with National Currency eXchange Group, with the duo to share intellectual property to develop new synergies and technologies. According to Ookami, the collaborative agreement complements its business model to develop technological solutions that encompass blockchain technologies, smart contracts, anti-money laundering, identity management and verification, data markets, digital asset wallets and exchange platforms, security and encryption, among others. The National Currency eXchange is a platform for investors to trade cryptocurrencies such as Bitcoin and Ethereum. As part of the collaboration, Ookami and National Currency eXchange will create a “preferred” client model which enables people to use […]
Local digital currency exchange Independent Reserve adds two new execs, turns to institutions
Independent Reserve, the Australian Digital Currency exchange, has added two executives to its senior management team as the company turns its attention to its growing stable of institutional and SMSF clients. Roman Stefanidi joined Independent Reserve as Chief Technology Officer in August, and Lasanka Perera as Head of Strategy in October. CEO Adrian Przelozny said the firm was now well positioned to grow as it focuses on institutional clientele. “Digital Currency has reached a level of awareness now where we’re seeing investors who have been waiting on the sidelines starting to enter the market,” he said. “Factors like the the new regulation by AUSTRAC, emerging ETFs and crypto […]
