Online broker SelfWealth is in discussion with a crypto exchange to add digital tokens to its platform. It is an Australian Securities Exchange listed company with 95,000 investors. More than two-thirds of its customers and investors are planning to hold or invest in digital assets.
According to a report by AFR, retail investors would be able to buy/sell crypto assets in real-time on the platform. It would be an “Australian first”, where users can trade Crypto and U.S. shares using the ASX’s Clearing House Electronic Subregister System, or CHESS, on the same platform.
SelfWealth intends to add up to 10 of the more established crypto assets, including bitcoin and Ethereum, by year’s end. The third-party wallet integrated with the platform will hold crypto. They will charge a flat percentage fee on crypto trading that happens through their platform. The firm will also share its revenue with the chosen exchange partner.
“We want to make investing for our customers as seamless as possible. Currently, moving between popular investment types usually requires access to multiple trading platforms and for investors to move money multiple times.” Said Cath Whitaker.
The announcement follows a survey by the SelfWealth of 3500 of its customers. Through which they found 30% of them were already crypto investors. An additional 38% indicated they are planning to invest in the controversial asset class. At present, SelfWealth holds securities worth $5.9 billion in its platform.
Also Read: Visa Customers Used Its Crypto Linked Cards For More Than $1 Billion In The First Half Of The Year
It also co-manages an SMSF- focused exchange-traded fund quoted on the ASX in partnership with the funds’ Management pioneer ETF securities.
