Sharesies to offer trading in Bitcoin, other cryptocurrency
Photo:
CFOTO / NurPhoto via AFP
Online investment platform Sharesies is expanding into cryptocurrency trading.
Co-chief executive Leighton Roberts said it was responding to customer demand.
"More and more people either own crypto or are interested in doing so. As the asset class has matured, we've seen it become more prominent in both institutional and personal investment portfolios.
"At Sharesies, we see an opportunity to make crypto investment more straightforward and less overwhelming for New Zealanders -whether they are new to crypto or seasoned investors who want to reduce complexity."
Sharesies customers can sign up to a waiting list to get early access to trading, expected to be in August.
Roberts said Sharesies would look to remove some of the complexity associated with crypto wallets and keys, and would partner with a leading crypto platform to allow retail customers to be able to buy, sell and hold crypto.
It was expected that leading crypto brands such as Bitcoin and Ethereum would be available.
Roberts accepted that crypto could be highly volatile and carried higher risk.
"As always, we'll be taking an educational approach with a number of initiatives planned to assist customers. We acknowledge that crypto may not be for everyone, but we want to provide people with choice."
Bitcoin has ranged between US$77,000 (NZ$129,000)
and US$120,000
(NZ$201,000) so far this year.
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