SelfWealth is expanding its service to include digital currency trading. After high demand for digital currencies, the Australian online broker has announced that retail investors will soon be able to purchase and sell digital currencies on its website.
SelfWealth is reacting to the rising trend in digital currencies by conducting a study of 3500 of its 95,000 members, which revealed that 30% of those polled had previously invested in cryptocurrency and another 38% planned to do so.
Cath Whitaker, CEO of SelfWealth, had this to say:
“Australians have decided that cryptocurrency is here to stay and are looking for trusted platforms to facilitate their investment decisions. We are on track to deliver cryptocurrency exchange functionality by year end […] SelfWealth remains intent on providing an easy to use, low cost, high value, wealth creation platform for all Australians to use. We will build without gimmicks and provide investors independent but credible content and information,”
SelfWealth, one of Australia’s leading non-bank online brokers, has around 95,000 investors and aims to add many of the biggest digital currencies to its website by the end of the year, notably bitcoin and ether.
The CEO of Self Wealth stated that this is the first major broker in Australia to enable investors to buy and sell cryptocurrency and also exchange local and US-based shares on the same platform, utilizing the ASX’s Clearing House Electronic Subregister System, or CHESS.
As per a survey by Finder, one in every six Australians now holds cryptocurrency. This is a 12 percent gain from the beginning of the year. While worries of volatility continue to hinder digital currency use in Australia, the survey’s overall findings show that digital currency acceptance is increasing.