Australia’s Zip to Launch Crypto Services in a Year: Report

22 July 2021

Zip Co, an Australian buy now, pay later firm, is reportedly looking to launch crypto services in the next 12 months in a bid to supercharge growth, Reuters reported Thursday.

  • Peter Gray, co-founder of Zip, said trading in crypto through the use of a native digital wallet developed by the pay-later firm was one of the most sought-after product features from users.
  • No further details were given on how the trading would work.
  • In 2020, over AU$2.6 billion (US$1.9 billion) in transaction value was clocked by the firm, making it one of the largest of its kind in Australia behind rival AfterPay.
  • Zip is targeting customers of its soon-to-be biggest markets in the U.S. and Australia, marking a significant step to begin offering crypto services.
  • The firm originally announced it was looking into stock and crypto trading earlier this year but didn't specify when it would launch the services.
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