Australian Regulator Gives Thumbs Up for CoinZoom’s Market Leap

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Australian Regulator Gives Thumbs Up for CoinZoom's Market Leap

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The Australian Transaction Reports and Analysis Centre (AUSTRAC) has issued its latest cryptocurrency license, this time to US-based cryptocurrency exchange, CoinZoom.

Serving both Australian and international customers, Coinzoom can now operate within Australia and as a cryptocurrency exchange, accepting and exchanging fiat, digital assets, and any other cryptocurrency.  The platform will now over a “one-stop user experience to link their credit card, bank account, and cryptocurrency wallets”.

Australia is the most recent of the company’s Money Transmitter Licenses to be issued after Florida, Ohio, Washington, Arizona, Georgia, Iowa, Kansas, Maryland, and Oregon. The company hopes that it will soon be able to trade all over the US and is now available for trading in over 35 states. Its Australian adventure is due to kickstart in Q1 2019 offering currencies including Bitcoin, Bitcoin Cash, XRP and other top traded altcoins available on the platform, along with a fiat to crypto service.

Australia is continuing to maintain its cryptocurrency profile in the global arena, with the eastern state of Queensland largely leading the way. CoinZoom will be joining a number of already well-established cryptocurrency exchanges both in Queensland and the rest of the country with a couple of high profile blockchain-based coups already in the bag as the year draws to a close, such as the one created by Australia Post.

The postal service Down Under, Australia Post, is now enabling customers to easily access crypto exchanges through a new platform called Digital iD. Created by Australia’s postal service, the iD platform enables users to dispense with private documents such as drivers licenses and passports for initial verification, which often results in anything up to a ten-day wait for new users before they can access crypto exchange services.


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