KuCoin Crypto Exchange Invests In Australian Platform
The team of KuCoin, a Singapore-based crypto exchange, invested $3 million in the development of the Bitcoin Australia trading platform, Financial Review reports.
Thus, the KuCoin staff members wish to emphasize their desire to enter international markets, and they are sure that investments in Bitcoin Australia will have an impact on the Australian crypto market.
Both companies have outlined their responsibilities to clients. KuCoin will provide services to large and experienced investors, and Bitcoin Australia will enable other traders to trade cryptocurrencies.
Despite a recent strong correction of bitcoin and other cryptos, there is a stable demand for crypto assets from investors in the country, Rupert Hackett, the executive director of Bitcoin Australia, stated.
Bitcoin Australia chief executive Rupert Hackett
Due to investments, the management of Bitcoin Australia is going to expand its influence to 30 countries in the next two years. At present, the company, in addition to the local market, provides services to customers in Canada and the Netherlands. Moreover, there is loyalty and support of the activities of Bitcoin Australia on the part of Australian regulators.
KuCoin has wide possibilities, for example, it lists 300 different cryptos, the number of customers is more than four million around the world, and the total sum of transactions which are monthly conducted amounts to $500 million. Such indicators allow counting on mutually beneficial cooperation, Hackett believes.
As previously reported, KuCoin listed the Tron (TRX) token.