Australia’s Blockbid Exchange Granted Cryptocurrency License by Austrac

Blockbid is currently registered with the Australian dealings Reports and Analysis Centre (Austrac). This makes it solely the third company granted permission to de jure operate as a cryptocurrency exchange in Australia since new rules transpire last week.
Austrac has approved associate application by cryptocurrency exchange Blockbid, in accordance with the new regulative powers given thereto beginning three Apr 2018. The platform’s main differentiating feature compared with most different marketplaces is providing insurance to users against any potential cyber-attacks. It conjointly plans to supply the power to trade with a minimum of seven completely different act currencies within the next 6-12 months, with four on the market throughout associate approaching beta launch.

David Sapper, COO at Blockbid commented: “Since its origin Blockbid has perpetually needed to place customers security and peace of mind at the forefront of building a one-for-all platform, permitting our users to trade confidently. As a registered digital currency exchange in Australia we tend to square measure wanting forward to gap up our doors worldwide to all or any traders and investors WHO need to use a platform that's legitimate and provides quality insurance still. this is often a giant step not just for the Australian cryptocurrency area however conjointly for our company because it means our vision to permit you to trade confidently has been acknowledged by the Australian government below AML/CTF pointers.”
Blockbid conjointly discovered more details regarding their beta launch, set to travel live Apr sixteenth. it'll begin with a restricted variety of users, WHO can explore the platform while not mercantilism real currency, and can continue till developers and users square measure glad with delivery.

After upgrading the system supported user feedback and more testing, section one amongst the beta launch can receptive general the general public. this may start with 5 cryptocurrencies and 4 act currencies: bitcoin (BTC), bitcoin money (BCH), bitcoin gold (BCG), litecoin (LTC), ripple (XRP), USD, AUD, JPY, and EUR. Lastly, several further tokens are introduced in section 2 of the beta launch.