Zip Co has announced that it will launch crypto trading services in Australia and the US within the following year. It is still unknown what assets it will support.
Zip Co, an Australian financial technology firm, claims it wants to give its US and Australian customers the ability to trade virtual currency. The company also announced the launch of a new service within the next twelve months.
We know our younger generation of customers seek additional products and services that are relevant to them.Peter Gray, cofounder and CEO of Zip Co.
ZipCo and crypto trading services
Director of the company said that there was a growing demand to trade cryptocurrency using the Zip digital wallet. He said that 30% of Australians have a buynow-paylater (BNPL), so they will soon be offering a wider range cryptocurrency services.
Zip Co. could launch the product first in the States, then move to Australia. The fintech company also plans to offer stock trading. The company is still deciding which services it will allow. Zip Co. has yet to specify which cryptocurrencies it will support.
Digital assets extremely popular in Australia
Research shows that 20% to 25% of Australians have digital assets. More than 90% have heard of at minimum one virtual currency. Bitcoin is an undisputed leader in these stats, as you might expect. 89% said they had heard of the original cryptography.
The survey found that younger generations, particularly those aged 18-24, are more likely to be familiar with DeFi tokens. They are 14.4%, and the total is 7.8%. The majority of those aged 45-54 have made a profit on their investments, with 54.5%.
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