BTC Markets to add financial services via Volt neobank

Australia’s leading cryptocurrency exchange BTC Markets has announced the addition of integrated banking services to its platform, following a partnership with licensed neobank Volt.

We are excited to announce that we have partnered with neobank Volt in order to bring greater speed and stability to our customers. Read more below. https://t.co/rnNp3r1anz @voltbank @FinancialReview #crypto #finance #fintech

— BTC Markets (@BTCMarkets) September 5, 2021

In the coming months, BTC Markets customers will be able to open Volt bank accounts ‘for enhanced security and real-time payments’.

Thanks to this integration, the platform will prevent a repeat of the December 2020 incident, when it mistakenly disclosed users’ personal data.

Deposits on Volt accounts are insured up to AUD 250,000 (~US$185,900).

According to the press release, the partnership between the two companies is the first of its kind.

“The whole process took about three years. Our collaboration shows that regulated financial institutions in Australia can work with cryptocurrency service providers,” Bowler told CoinDesk. CoinDesk CEO BTC Markets Caroline Bowler.

Earlier, the Australian Securities and Investments Commission recommended not to work with unregistered companies.

Earlier, the local blockchain association urged authorities to coordinate their approach to establishing a regulatory framework for the cryptocurrency industry.

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