In Brief:
- Neo bank announced partnership with BTC market
- This partnership will provide real-time notification and automated payment services to Neo-bank’s customers
Australia-based leading crypto exchange platform BTC markets has linked up with the digital bank named Neobank Volt. In the latest press release of BTCM, they said that in the next few months they will encourage their customers to open volt bank accounts for real-time trading.
Volt will link its accounts on the BTC markets platform in Australia, which will allow its customers to receive real-time notifications and automatic payments.
This partnership will give access to exchange customers of the neobank’s account. User’s security is the most important in exchange, which exposed the names and emails of 270,000 users when sent out in mass emails in error. Here, You would be able to claim $250,000 worth of insurance according to Australia’s Financial claims scheme.
The company is grateful to announce that this partnership is the first of its kind in the country. Also, it follows the latest senate inquiry into accusations that conventional Australian banks were “de-banking” cryptocurrency operators by denying them core banking services.
Neobank had begun launching in 2018 after the core and law-oriented changes in Australia’s banking sector. In 2019, Volts began its services after getting the unrestricted Authorised Deposit-Taking institution license.
“The first is always the hardest to get done,” said Bowler. “This partnership shows it is possible for regulated entities in Australia to partner with the right crypto providers or other fintechs.”
It is known that at the beginning of this year, Australia’s financial regulation authority had imposed stricter requirements for the banking licenses and increased the surveillance for new entrants in the market.
