Australia-leading digital retail finance and funds firm Zip Co Ltd is contemplating including cryptocurrency buying and selling choices for patrons.
Sydney-based Zip Co is a “Buy Now, Pay Later” (BNPL) firm providing point-of-sale credit score and digital fee options, which is based in 2013 and listed on The Australian Securities Exchange below the code of “Z1P”.
As the BNPL trade has change into a mainstream trade for its present clients, particularly younger adults, Zip firm revealed that it could launch new cryptocurrency buying and selling companies within the subsequent 12 months concentrating on the United States and Australian market, according to a Reuters report Thursday.
The firm additionally acknowledged that it could rename its US subsidiary Quadpay to Zip and combine it below the identical title, ZIP.
The co-founder of Zip, Peter Gray, stated that cryptocurrency buying and selling is among the new options customers want most and stated that:
“We know our youthful era of consumers search extra services which can be related to them.”
The firm’s transaction quantity exceeded AU$1.76 billion (US$1.29 billion) within the June quarter of this 12 months, and its full-year transaction quantity in 2020 exceeded AU$2.6 billion (US$1.9 billion).
Zip has change into the second largest supplier of BNPL companies in Australia, second solely to its competitor Afterpay. Zip’s international enlargement accelerates its transactions with European and Middle Eastern firms. The firm stated that its US subsidiary Quadpay can be renamed Zip to consolidate the model below one title.
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