Cryptocurrency exchange, Zebpay has announced plans to branch out into the Australian market.
The HQ for their new Australian wing will be found in Melbourne, very much the centre of tech in the country and thus the ideal location for the Singapore-based exchange to spread its wings. They have reportedly already acquired a license with the relevant financial authorities there and have become a registered member of the Australian Digital Commerce Association, so the set-up is essentially done and dusted.
Their newly instated, Australia Director, Sandeep Khurana, stated “Australia is an ideal market for Zebpay’s services with its clear stance on regulation, openness to fintech innovation and thirst for crypto products,” ahead of the launch. Users will be able to trade 5 cryptocurrencies from the outset bitcoin (BTC), ether (ETH), ripple (XRP), bitcoin cash (BCH) and litecoin (LTC) with fiat currencies, either via their mobile or desktop. With more likely to follow be added to that selection before long.
The news comes 7 months after they had to close operations in another market, India, after the laws in the country were changed to forbid crypto banking ban in the country, which is supposedly have made trading there “extremely difficult”.
However, as the old adage goes, “when one door closes, another one opens” and that is a very big door in the form of Australia, who’s crypto presence is definitely on the up. Zebpay is just the latest to make the move to OZ, with other names, including Binance already setting up shop there.
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