Coinbase Expands To Another Country: “This Country Is Our Primary Market!”

Coinbase is strengthening its services in Australia, describing it as a “priority market for them”.

Cryptocurrency Exchange Coinbase Expands Operations in Australia

Cryptocurrency The exchange said it added local payment platform PayID as a way for customers to transfer Australian dollars to their Coinbase accounts, offering enhanced trading tools and better pricing to local retail customers, and providing 24/7 contact support to customers in the region.

The exchange was also established as a local legal entity in Australia and registered with the local regulator Australian Transaction Reports and Analysis Center (AUSTRAC) to provide digital currency exchange services.

John O’Loghlen, previously regional manager at Ant Group, was appointed head of Coinbase Australia in July.

The cryptocurrency exchange stated that it has invested in Australian crypto firms ImmutableX, CoFiX, Synthetix, Block Earner and CryptoTaxCalculator.

Regarding the expansion moves, Coinbase said:

“At Coinbase, we believe that improving access to cryptocurrencies and Web3 will further economic freedom worldwide. This belief drives our international expansion efforts.

This allowed us to be among the first platforms to offer access to crypto globally, the first cryptocurrency exchange on the Fortune 500 companies list, and the largest exchange in the United States.”

The cryptocurrency company stated the following about its new ventures in Australia:

“Australia is well positioned to lead crypto legislation both in the region and globally by taking a proportionate and crypto-oriented approach to truly exploit the potential of the crypto economy.

We look forward to continuing our work with politicians in Australia to advance our shared goals of empowering and protecting consumers through crypto.”

*Not investment advice.