New Zealand crypto exchange targets South African market

New Zealand crypto exchange targets South African market

New Zealand crypto exchange, Easy Crypto, is branching out into new markets following impressive growth in its homeland.

According to reports, the New Zealand crypto exchange retailer has launched a new platform to target the emerging South African digital currency market.

Easy Crypto was established in 2018 and is a well-established provider in New Zealand and Australia. The company has reportedly over 15,000 accounts with over NZ$50 million [AU$47.02 million] in sales.

The firm expanded to Australia last year and has enjoyed solid growth with a tripling of business over the last two quarters.

The platform offers around 50 cryptocurrencies and a fiat on-ramp supporting AUD and NZD. South African Rand has just been added to its new launch.

Co-founder, Janine Grainger, stated:

With a population of 56.7 million – including an estimated 11 million who are unbanked – we aim to provide South Africans with the ability to easily buy and sell crypto and access a financial system totally independent from traditional institutions.

Statistics suggest that nearly 11% of South Africans already own some cryptocurrency which makes this market one of the most lucrative globally.

An archaic and expensive banking system also lends itself to the adoption of digital assets for faster and cheaper transactions.

Images courtesy of Dan Whitfield/Pexels

Micky is a news site and does not provide trading, investing, or other financial advice. By using this website, you affirm that you have read and agree to abide by our Terms and Conditions.
Micky readers - you can get a 10% discount on trading fees on FTX and Binance when you sign up using the links above.