Coinbase launches 2 new crypto features for Australian investors

Australians will now have “easier and safer” ways to access the digital asset market thanks to Coinbase, a renowned United States-based crypto exchange.

Australians are among the early adopters of crypto assets, according to Nana Murugesan, managing director of Coinbase, who also described them as “savvy investors” in a recent statement. “The Land Down Under” was referred to by the company as a “hotbed of fintech innovation.” As a result, the exchange offered those residents a variety of cryptocurrency offerings. 

Coinbase expands its product offerings in Australia

With the introduction of the exchange’s PayID services, Australians can now top up their accounts via direct payments in Australian dollars. Additionally, Coinbase made Retail Advanced Trading available to local clients, enabling them to use a single, unified account to access low volume pricing instruments. Australian investors would also count on the platform’s round-the-clock customer service for any problems that may arise.

“At Coinbase, we believe that advancing access to crypto and Web3 will further economic freedom around the world,” Murugesan said.

Murugesan stressed that his crypto exchange is a major supporter of crypto regulations and  that before launching the offerings, it has worked with Australian financial watchdogs:

“In Australia, we have incorporated Coinbase as a local entity (Coinbase Australia Pty Ltd) and obtained registration and enrolment with the Australian Transaction Reports and Analysis Centre (AUSTRAC) to provide digital currency exchange services. We believe Australia is well positioned to lead the world in its approach to crypto.”

Anthony Albanese, the country’s new prime minister, pledged during the election campaign to concentrate on three key issues: combating climate change, lowering the cost of living, and enacting comprehensive regulations for the Crypto industry.

In August, Australia’s primary financial regulator Securities and Investments Commission (ASIC) launched a 4-year plan to protect citizens from the crypto investments.

Notably, the Australian Police Force established a crypto unit to identify criminals who engage in illicit digital transactions, including money laundering. By the end of the fiscal year 2024, the agency hopes to have seized more than $400 million in criminally generated income, as TheCoinRise reported.