Coinbase is augmenting its presence on the Australian market, which it called a ‘priority’ one in a recent blog post.
The leading crypto exchange is adding PayID, a local payments platform, to enable Australian users to transfer Australian dollars to their Coinbase accounts.
Advanced trading tools and better pricing
The expansion includes better prices and more advanced trading tools for local retail customers as well as chat support around the clock.
Coinbase said, “We believe that advancing access to crypto and Web3 will further economic freedom around the world.
“This belief drives our international expansion efforts: it enabled us to be among the first platforms to offer access to crypto globally, the first cryptocurrency exchange in the list of Fortune 500 companies, and the largest in the United States. Aussies were some of the world’s earliest adopters of digital currencies, and they are savvy investors.
“We know this because Coinbase was one of the first platforms Australians trusted with their crypto investments. Now, we want to elevate their experience using Coinbase.”
Local entity and regulatory compliance
Coinbase has not only registered with the local watchdog, the Australian Transaction Reports and Analysis Centre (AUSTRAC), for the provision of digital currency exchange services, but has also become incorporated as an Australian entity.
In July, the exchange appointed former Ant Group exec John O’Loghlen to lead Coinbase Australia.
Coinbase’s other activities Down Under include investments in Synthetix, ImmutableX, Block Earner, CoFIX, and other Australian crypto firms.