New Zealand’s popular investment platform Sharesies has announced plans to launch retail cryptocurrency trading services this August, marking the company’s first venture into digital assets. Co-CEO Leighton Roberts revealed the decision comes as user demand surges alongside crypto market rallies that have pushed Bitcoin to record highs.
The platform aims to simplify cryptocurrency investing for New Zealanders by eliminating common barriers like complex wallet management and private key handling. Roberts emphasized that Sharesies wants to make crypto investment “more straightforward and less overwhelming” for both newcomers and experienced investors seeking reduced complexity.
Streamlined Access Through Strategic Partnerships
Existing Sharesies users can join a waiting list for early access to the new crypto trading features. The company plans to partner with an established cryptocurrency exchange to facilitate seamless buying, selling, and storage of digital assets without requiring users to manage technical aspects independently.
The initial offering will focus on major cryptocurrencies like Bitcoin and Ethereum, with Roberts acknowledging crypto’s inherent volatility while positioning the expansion as a response to evolving customer needs. “We acknowledge that crypto may not be for everyone, but we want to provide people with choice,” he stated.
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Regulatory Tensions Emerge
The crypto expansion announcement comes as New Zealand regulators tighten controls over the digital asset sector. The government recently implemented a complete ban on cryptocurrency ATMs, forcing the removal of over 221 machines operating throughout the country.
These restrictions form part of broader anti-money laundering efforts, with authorities also capping foreign currency transfers at $5,000. Associate Justice Minister Nicole McKee emphasized the government’s commitment to isolating criminal networks while minimizing impact on legitimate businesses, following recommendations from the Ministerial Advisory Group on Transnational, Serious and Organised Crime.
Sharesies, which launched in 2017, has attracted more than 700,000 investors across New Zealand and Australia. The platform currently offers stocks, ETFs, and managed funds with fractional investing capabilities starting from just one cent, positioning the crypto addition as a natural extension of its accessible investment philosophy.
Current market conditions show crypto maintaining momentum, with total market capitalization reaching $3.87 trillion after a 0.7% increase over 24 hours. Bitcoin recently dipped below $117,000 before recovering above $118,200 during European trading sessions.
Broader Market Implications
The entry of established financial platforms like Sharesies into cryptocurrency trading could signal growing mainstream acceptance despite regulatory headwinds. This development may encourage similar platforms to accelerate their own crypto integration plans as institutional adoption continues expanding.
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