PayPal is making it easier for people to load AUD into Independent Reserve.
PayPal conducted due diligence on its processes for safeguarding funds.
The digital currency exchange welcomes more government regulation.
PayPal will make it easier to invest in crypto as major banks remain cool on the space, under a deal with Independent Reserve that will allow its customers to use a credit card to send Australian dollars to its digital currency exchange.
Independent Reserve, which has 250,000 customers and holds crypto balances of $1 billion, said the new “on ramp” will support customers looking to buy cryptocurrencies like Bitcoin, Ether and Ripple, including through its bitcoin.com.au brand.
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James Eyers writes on banking, finance, payments, regulation and emerging technologies. Based in Sydney, he is a former legal and investment banking editor at the AFR and has been a business journalist for more than 20 years. Email James at jeyers@afr.com.au
