U.S.-based cryptocurrency exchange, CoinZoom, has announced it will enter Australia after its wholly owned subsidiary, CoinZoom Australia, gained approval from financial regulator AUSTRAC.
CoinZoom anticipates its Australian platform will go live in the first quarter of 2019.
The fiat to crypto exchange will support major cryptocurrencies including Bitcoin, Ethereum, Bitcoin Cash, Bitcoin Gold, Litecoin, Ripple, in addition to top traded altcoins.
“Being fully registered with Australia’s regulatory financial oversight body AUSTRAC to operate as a Digital Currency Exchange, is an important step in our goal to provide globally compliant digital currency trading for both institutional and retail traders,” said CoinZoom CEO, Todd Crosland.
Coinzoom was founded by Todd Crosland, the former CEO and founder of foreign exchange market Interbank FX.
The exchange has expanded rapidly in the US since launching in April this year.
It currently operates in 35 US states and the company says additional states are being added “weekly”.
CoinZoom is also registered as a Money Services Business in all 50 states and holds US Money Transmitter Licenses in Florida, Ohio, Washington, Arizona, Georgia, Iowa, Kansas, Maryland, and Oregon.