Shares, a New Zealand-based investment platform, has entered the crypto market. Co-CEO Leighton Roberts announced that the company will launch retail cryptocurrency trading in August. This comes amid growing demand for users and the highest crypto market rally ever driven by Bitcoin.
“At Shares, we believe there is an opportunity to make encryption easier and overwhelming, whether it’s new to new investors who want to reduce the complexity.”
CO-CEO Leighton Roberts
The platform plans to facilitate investment in digital assets by removing common obstacles related to wallets and personal keys. Early access can be obtained by shared users from the waiting list. The platform is trying to collaborate with major crypto exchanges to enable a smooth process of purchasing, selling and storing cryptocurrency.
Roberts recognized Crypto’s volatility, but positioned growth as an organization that meets changing customer requirements. The service initially caters to more important assets such as Bitcoin and Ethereum. He pointed out, “We acknowledge that cryptography may not be for everyone, but we want to provide people with options.”
This move reflects the growing demand for accessible crypto tools, particularly as the market remains active. Cryptocurrency market capitalization has increased by 0.7% to $3.87 trillion over the past 24 hours. At the end of Tuesday, Bitcoin fell below the $117K level, but has risen above $118.2K during European sessions and is moving upwards.
The stock was launched in 2017 and has already attracted over 700,000 investors in New Zealand and Australia. The platform already supports access to stocks, ETFs and managed funds, with the ability to allow for small investments on a single cent. The incorporation of digital assets should increase competitiveness in the rapidly evolving fintech sector.
Crypto crackdowns will be strengthened as the government bans ATMs
Stocks are intended to increase the number of people who can invest in digital assets, but New Zealand’s regulators control the industry. The government has announced a complete ban on all cryptocurrency ATMs. The new policy will drive more than 221 machines used in the country.
The ban is part of a broader campaign to reduce financial crime and focuses on loopholes using crypto infrastructure. The government has also limited foreign currency transfers to $5,000 to modify laws aimed at preventing terrorist laundry and funding.
Assistant Judge Nicole McKey said criminal networks need to be isolated and have a possible impact on legal businesses. She declared reforms in June, reiterating the government’s intentions to ensure New Zealand is a safe and transparent place for doing business.
A recent report by a ministerial advisory group on severe and organized crime across borders quickly moved money off the coast, citing the inappropriate use of crypto ATMs.
