Australian Venture Capital-Raising Round To Accept USD Tether

West Coast Australia Group – an Aussie company that specializes in aquaculture – has launched an initial public offering  (IPO) that will accept Tether as well as fiat.

WCA is based in Melbourne and sells its fish alive and fresh, both wholesale and directly to retail customers.

Cryptocurrency-Friendly Funding Platform

The round of funding is being operated by Stax – a crypto-friendly capital-raising platform. The WCA Group, a company on the Sydney Stock Exchange’s (SSX) publicly traded list, is selling a minimum of 10,000,000 and up to 14,000,000 shares at $AUD 0.50 a pop.

West Coast Australia Group selected the SSX as its stock trading platform of choice due to the support the SSX offers to smaller companies – support including, but not limited to, listing requirements within the reach of small-scale companies.

The capital raised will be used to invest in a new hatchery and nursery facilities for a fish farm the company runs in Langkawi, Malaysia – among other smaller investments.

Interested parties can buy these stocks in either AUD or Tether (USDT).

Kenny Lee – the CEO of Stax – explained that even though Bitcoin and Ethereum are more well-known than USDT, it was chosen due to its status as a stablecoin.

“The acceptance of USDT in an IPO is a transformative move in Australia and a significant step forward for cryptocurrency adoption in general. It paves the way for the future of capital markets down under.”

Neo Ching Hoe – the CEO and founder of WCA – stated in turn that he and his company are proud to be part of a historic moment in Australian investment history – and that he hopes this move will set a precedent for other global companies to invest in the Australian market.