Coinbase announced the expansion of its services in Australia to make access to the crypto economy easier and more secure, introducing three services for its Australian customers.

The digital currency exchange, which first entered the Australian market in 2016, said it would introduce a PayID feature for its Australian users.

the ad was revealed in a published blog post, “First, we introduced PayID as a way for Australians to top up their Coinbase accounts using direct transfers in Australian dollars.” Coinbase said in the announcement.”

PayID is a payment feature developed by Australia’s financial services industry and the Reserve Bank of Australia that allows people to link a mobile phone number or email address to a bank account to receive payments.

Furthermore, Coinbase also stated that it would be launching an advanced retail trading feature. A tool that will enable Australian clients to access low volume-based pricing and powerful trading tools with a harmonious balance. The firm also added that it would provide 24/7 chat support to customers in Australia.

Talking about how Aussies were some of the early adopters of digital currencies in the world and that they are smart investors. The firm further called Australia a “hotbed of fintech innovation.” And it seeks to elevate the experience of Australians using Coinbase.

VP International & Business Development Nana Murugesan commented on the latest products in Australia. The post says:

“Australians were some of the early adopters of digital currencies in the world, and they are smart investors. We know this because Coinbase was one of the first platforms Australians trusted with their cryptocurrency investments. Now, we want to improve your Coinbase experience. Additionally, Australia is a hotbed of fintech innovation – we took a hard look at this space to better understand the market and recently hired John O’Loghlen (Australia Country Director) to lead our local team.”

Furthermore, to further its Australian affair, Coinbase stated that it has incorporated a local entity (Coinbase Australia Pty Ltd) and obtained registration and enrollment with the Australian Transaction Reporting and Analysis Center (AUSTRAC) to provide currency exchange services. digital currency.

Coinbase has now collaborated with the Royal Melbourne Institute of Technology on research into Web3 and the future of finance in Australia. The cryptocurrency exchange was also recently welcomed as a member of Blockchain Australia, the country’s leading industry network for companies implementing or evaluating blockchain technology.

Notably, last month, Coinbase announced its official registration as a Virtual Asset Service Provider (VASP) with the Dutch Central Bank (De Nederlandsche Bank – DNB). According to Coinbase, the license will allow it to offer its full suite of crypto products that will serve both its retail and institutional clients in the country.

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