KuCoin, a leading global digital currency exchange is helping Bitcoin Australia with its expansion. KuCoin’s investment in the local exchange sums up to an amount of AUD $3 million, helping it to grow in the international market.
The investment will in turn, help the Hong Kong based exchange lay its foothold in the Aussie market. It will also help the exchange to seek the advanced investors in the country.
Michael Gan, the Chief Executive of KuCoin, said: “This is not only a great strategic decision but will be an excellent long-lasting partnership for us to help cryptocurrency grow globally.”
The investment will be beneficial to both KuCoin and Bitcoin Australia
Bitcoin Australia that was established in 2015 and offers Bitcoin (BTC) trading and purchase of Ethereum, has strategized its expansions in 30 countries by the year 2020. It has already built its presences in Canada and the Netherlands. Chief executive of the Australian exchange Rupert Hackett, said: “It will effectively create an exchange for intermediate and advanced traders, while we’re a mass market approach, making us quite synergistic. We’ll build the consumer-friendly retail experience for people entering the market, while supporting KuCoin for advanced traders.”
Hackett believes that it is the most appropriate time for making the expansion and said: “[The Austrac regulations] were very progressive based on the global climate. Because we’re a regulated cryptocurrency exchange, we can leverage that in these international markets and foster business relations on that foundation.”
“The UK is our next primary target. We offer the ability to purchase cryptocurrency already, but there’s a big difference between that and a bespoke experience. We want it to be seamless with the payment infrastructure in the UK and build up the brand,” he added.
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