December 5, 2022

Australian Online Broker SelfWealth To Add Cryptocurrency Trading

Online broker SelfWealth, which is listed on the Australian Stock Exchange (ASX), will add to the platform the ability to buy and sell cryptocurrencies.

SelfWealth CEO Kat Whitaker said the platform will be the first in Australia to provide the ability to trade stocks and cryptocurrencies “in one place”.

SelfWealth is currently in talks withcryptocurrency exchanges to implement this initiative. The company serves 95 thousand clients, the total value of securities held at SelfWealth is 5.9 billion Australian dollars (approximately 4.4 billion US dollars).

SelfWealth plans to add 10 by the end of the yearcryptocurrencies, including bitcoin and ether. They will be stored in the partner's wallet integrated with the platform. The amount of commissions for transactions has not yet been reported.

According to surveys, two-thirds of SelfWealth customers own or plan to purchase digital assets.