Coinbase (COIN) is boosting its services in Australia, calling the country “a priority market for us,” the company announced in a blog post this week.
The crypto exchange said it is adding local payments platform PayID as a way for customers to transfer Australian dollars to their Coinbase accounts, offering advanced trading tools and better pricing to its local retail customers and providing 24/7 chat support to customers there.
The exchange has also incorporated as a local entity in Australia, and registered with local regulator Australian Transaction Reports and Analysis Centre (AUSTRAC) to provide digital currency exchange services. John O’Loghlen, formerly a regional director with Ant Group, was hired in July to head up Coinbase Australia.
The crypto exchange noted it has invested in Australian crypto firms ImmutableX, CoFiX, Synthetix, Block Earner and CryptoTaxCalculator.
CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.