A new initiative aims to enhance financial services in Australia by introducing a variety of features to improve the investing experience for local users. This initiative includes the launch of AUD accounts, which will accrue interest on cash holdings, as well as the ability to make direct crypto deposits and set up recurring investments. Additionally, more than 200 new stocks listed on the Australian Securities Exchange (ASX) are being added to the platform’s offerings.
In a strategic move, the investment app Spaceship, acquired last year, will be integrated into the main app, promising a more streamlined user experience. An open banking solution will also be introduced, enabling instant bank transfers without needing to exit the app, thus simplifying the transaction process for users.
The focus on the Australian market reflects a commitment to better cater to local investors’ unique needs. Plans to localize services suggest a significant effort to capture a greater share of the Australian investment landscape. Despite the majority of funded accounts being located in the UK and Europe, the Asia-Pacific region—including Australia—accounts for approximately 16 to 20 percent of active funded accounts.
In the financial performance report for the second quarter of 2025, notable figures include $210 million generated in revenue termed as “net contribution,” alongside an adjusted net income of $54.2 million. By the end of the quarter, the platform had 3.63 million funded accounts and $17.5 billion in assets managed.
Australia became part of the expansion strategy in 2016, and the acquisition of Spaceship for AUD 80 million last year significantly strengthened the local presence. At that time, Spaceship had over 200,000 clients and managed more than AUD 1.5 billion in assets through various funds.
The announcement of these new services also includes incentives such as discounted currency conversion fees for Australian users purchasing USD-traded assets; fees will start at 0.75 percent, with reductions available for higher-tier club members. In addition, users will be able to deposit popular cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC), and XRP from external wallets and convert them into AUD.
Beyond Australia, there are also initiatives to expand cryptocurrency offerings in other regions. Recently, a staking feature has been introduced in the US, which currently supports Ethereum, Cardano, and Solana, with plans to include additional assets in the future. Instant funding options in AED have also been rolled out for users in the Middle East.
Through a combination of localized services and expanded financial products, the aim is to create an enhanced and more tailored investment platform that can meet the diverse needs of Australian investors.