Revolut, one of Europe’s largest brokers launched its cryptocurrency exchange in Australia, allowing users to convert their fiat currency into Bitcoin, Ethereum and a few other cryptocurrencies
Traders in Australia can now use one of Europe’s largest financial apps to trade cryptocurrencies. Revolut launched its services in Australia last month and has already expanded its services to include the cryptocurrency trade.
The UK-based cash app announced yesterday that it had allowed tens of thousands of customers in Australia to buy, sell and maintain some cryptocurrency assets. Australian traders on the platform can convert their Australian dollars (Aussie) into Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Bitcoin (BTC), XRP and Stellar (XLM).
“The exchange process allows customers to convert Australian dollars – or 26 other global currencies – into cryptocurrencies through the app. Customers receive real-time notifications alerting them to changes in the price of a currency and can immediately sell their cryptocurrency securely, withdrawing instantly and in real time”, Confirmed the blog post.
Matt Baxby, head of Revolut Australia commented that buying and selling cryptocurrencies is a complicated and confusing thing for people unfamiliar with the industry.
Revolut aims to eliminate the complexity involved, allowing anyone to easily create an account in minutes and start buying and selling cryptocurrencies instantly.
Revolut launched its services in Australia last month with several traditional financial services. The platform has gained momentum in the country since the beginning, with 30,000 people on the application’s waiting list and 25,000 Australians already using the beta version of the application. Revolut is a leading financial services application in Europe, where it has more than one million users. At the moment, Revolut adds about 6,000 new cryptocurrency accounts daily, as more merchants and investors take advantage of the wide range of services they offer.
Edward Cooper heads the cryptocurrency division of Revolut, and he believes that by making cryptocurrencies easier for people to access, he claims that Revolut is trying to achieve what the internet browser has done over the internet.
Australia is fast becoming an important country in the crypto space. The Australian dollar is one of the highest rated currencies in terms of Bitcoin trading volume. Its growing importance has attracted some of the world’s leading exchanges, with Kraken buying Bit Trade, Australia’s oldest cryptocurrency exchange earlier this year. Binance also launched its platform fiat-to-crypto in Australia in July, after launching the platform Binance Lite Australia last year.