Crypto currency

Initially, the exchange has offered Australian dollar, US dollar and tether pairs across five cryptocurrencies: bitcoin, ethereum, ripple, litecoin and bitcoin cash.

Mine has indicated that it has a roadmap for growth during the year, with plans to roll out derivatives (retail and institutional traders), expand its list of currencies and develop a professional trading academy, providing education to aspiring traders.

Mine chief executive Grant Colthup said the start-up will set a new standard in the Australian cryptocurrency exchange.

The company has partnered with digital asset platform provider BC Group, which he commented will provide insured custody for investors.

“There is interest in cryptocurrencies as a new asset, however, there are continuing concerns about the secure storage of these assets,” Mr Colthup said.

“The BC Group relationship provides best-in-class exchange technology to ANXONE and access to OSL, Asia’s leading digital asset broker. By leveraging BC Group’s products and services, we’ll be able to offer users insured custody, access to market leading trading solutions, global liquidity and competitive fees.

“We believe that our venue should resonate with serious traders and investors who are seeking diversification away from traditional markets and their historically low levels of volatility.”

Mr Colthup added the company has a number of promising potential partnerships in the space and is excited for future developments.

“Our longer term aim is to become a significant contributor in the APAC landscape as we bring more services to market in 2019/20,” he said.

“Many of the leading crypto-to-crypto exchanges originated out of the APAC region, but in terms of compliant or regulated crypto fiat venues, the region still lags [behind] North America and Europe. We want to fill that gap.”

In August, Mine was accepted as a member firm of the Gibraltar Stock Exchange (GSX) across all classes of securities (traditional and digital).

Matt Starkey, chief operating officer at Mine said the partnership with the digital security exchange would further enhance its capability.

“GSX membership gives Mine Digital the ability to attract, promote and raise capital for a wide variety of digital funds and securities,” he said.

The Mine Digital executive team is backed by an advisory board, with all staff said to collectively have deep financial market experience covering major asset classes and most instrument types in global and investment banks, insurers, hedge funds and trading firms.

Mr Colthup concluded the fintech sits at an intersection of blockchain, technology and cryptocurrencies with traditional financial market knowledge.

“We want to make risk-managed crypto readily accessible, with secure infrastructure, to a variety of investors, including individuals, professional fund managers and SMSFs,” he said.