In recent news pertaining to cryptocurrency exchanges, Perth-based Bamboo has announced it will launch an app designed to easily facilitate micro-investments in cryptocurrencies, Kraken has rejected an internet rumor that claimed the company had closed a Canadian facility amid security concerns, and Roboforex has increased the leverage available on its cryptocurrency markets to 1:50.
Also Read: Kucoin Expands Into Australia After $3M Bitcoin Australia Deal
Australian Startup to Facilitate Micro-Investments in Crypto Markets
Bamboo, a Perth-based startup, has announced its intention to facilitate micro-transactions into cryptocurrencies through its app. The company plans on launching in Australia and the United States later this year.
Phil George, the chief executive and co-founder of Bamboo, stated: “Our platform aims to provide access to different investment opportunities like cryptocurrencies,” adding: “We wanted to build product and tools that made it easy for anyone to get involved [with cryptocurrencies]. We call it democratizing finance. […] Robinhood is an application that makes it easier to trade shares in a way that’s as powerful as platforms that you needed $100,000 just to trade on. Now you can do it with just $5.”
Mr. George also indicated that Bamboo intends to expand to target emerging markets in the future, stating: “A lot of the third-world nations are as eager, if not more eager, because the barrier to entry is so low with the app that everyone feels like they have an opportunity to be a part of it, and they do. […] I guess what’s next is how aggressively can we launch into new markets that maybe others have overlooked because they don’t have a huge disposable income and they don’t have a huge amount of individual wealth. That doesn’t mean that they shouldn’t be afforded the same opportunity.”
