First Cryptocurrency bank of Australia to be built by the CEO of Finder

Australia is one of the foremost countries to accept blockchain technology and cryptocurrencies, says recent reports. The latest addition to the bandwagon is Fred Schebesta, an Australian entrepreneur and Co-Founder of comparison website, Finder.

As per recent reports, Schebesta revealed that he is all set to ‘build the crypto bank of Australia’, a ‘multibillion-dollar’ scheme which he plans to complete within the next 18 months.

According to a recent interview with an Australian news website named News.com.au, Schebesta stated that:

“There’s a lot of intricacies when it comes to cryptocurrency and how it actually operates. We understand this market, we know how to make it safe and make it scalable and actually bring it to banks.”

Schebesta believes that once cryptocurrency adoption spreads, the need for several services such as cold storage, custodianship, exchange, spending, and lending are all going to be in high demand.

Finder is believed to be one of Australia’s leading comparison websites which compares an extensive group of major banks, insurers, and product issuers. Finder commenced its cryptocurrency comparison on the website in September 2017.

After Schebesta was able to gauge the growing interest in the new feature and the massive traffic it garnered, he decided to invest in the technology further.

The Co-Founder of the comparison website, Frank Restuccia went on to launch an OTC [Over The Counter] cryptocurrency exchange known as HiveX soon after.

These new developments and many other recent reports seemingly make Australia, a country that is well on its way in adopting cryptocurrency into the public sphere.

On 4th August, the government of Queensland had announced a scheme to add Bitcoin and other cryptocurrencies into its system effectively seeking a wider adoption of the coin. Recent reports also saw the Australian Tax Office extending its tax obligations to cryptocurrency holders as well.

The famous blockchain and cryptocurrency firm, NEM, recently launched 2 NEM blockchain hubs to further education and blockchain knowledge in Australia. Recent reports also saw cryptocurrency exchange platform Huboi launching their platform in the Australian market.

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