Wirex, a UK-based Web3 money app, has secured registration as a digital currency exchange provider in Australia.
The move enables the firm to offer digital currency exchange services within the country.
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This registration is aimed at enhancing user experience with crypto payments and digital asset management.
The digital currency exchange registration confirms that Wirex complies with Australian regulatory reporting requirements, the release stated.
These requirements are in place to prevent financial crimes such as money laundering and fraud.
With this approval, Wirex is anticipated to enhance its offerings for the Australian market, expanding its services within a structured regulatory environment.
Wirex global chief risk & compliance officer Chet Shah said: “Regulatory compliance is a cornerstone of Wirex’s operations. Securing digital currency exchange registration in Australia underscores our commitment to fostering a safe and transparent digital finance ecosystem. As we continue expanding globally, we remain dedicated to working with regulators to balance innovation with strong consumer protection.”
Last month, Wirex launched its stablecoin payment platform, Wirex Pay, in the US, supported by a tie-up with stablecoin orchestration platform Bridge.
Serving over six million customers across 130 countries, Wirex has processed transactions worth $20bn to date.
The firm focuses on driving the adoption of digital payments globally.
It offers secure accounts that enable users to store, buy, and exchange multiple currencies and is a principal member of Visa and Mastercard.
