New Zealand Stockbroker to Jump Into Crypto Trading Amid Rally
Main Idea
Sharesies, a major New Zealand stockbroker, is expanding into cryptocurrency trading, which could significantly boost crypto adoption in the region, leveraging its large user base and simplified investment approach.
Key Points
1. Sharesies, a New Zealand stockbroker with over 700,000 users, is entering the cryptocurrency trading market.
2. The platform currently allows users to invest in stocks, ETFs, and managed funds with minimal amounts, such as 1 cent.
3. Cryptocurrency regulation in New Zealand relies on existing laws, with digital assets classified as property and overseen by the Financial Market Authority (FMA).
4. The FMA has introduced a regulatory sandbox to help blockchain startups test innovative products.
5. The move by Sharesies comes amid a rally in Bitcoin and other major cryptocurrencies, potentially increasing crypto adoption in New Zealand.
Description
Cryptocurrency adoption in New Zealand is expected to get a major boost with Sharesies
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