Gallantree Partners Aussie Exchange to Offer Crypto Trading

By Ibiam Wayas December 14, 2020 In Australia

A fintech company in Australia, Gallantree, is looking to include cryptocurrency trading in its suite of financial services, according to a report on Friday. Based in Brisbane, the fintech has reportedly partnered with Aussie digital currency exchange, Elbaite, to allow residents in the country to purchase and sell many cryptocurrencies. This is quite a milestone as it further broadens access to cryptocurrency in the Australian market.

Gallantree is Preparing to Debut Crypto Services

Gallantree already provides investors in the country with investment opportunities in private banking, stockbroking, etc. By adding cryptocurrency to the list, the company intends to expand investment opportunities to the public, not just the “one percent” financial elite. Having inked a partnership deal with Elbaite exchange, Gallantree will provide the option to buy, sell, and hold digital currencies in a very secure manner. 

Both companies understood the need for adequate security of the assets, and pledged to provide a risk-mitigated venue for clients to trade cryptocurrencies securely, yet at a low cost. While highlighting the need for asset security, the CEO of Elbaite said many investors are aware of the benefits associated with holding digital currencies, especially Bitcoin (BTC). However, it’s a wearisome thing to do because of the poorly managed risks.

Crypto Risks are Keeping Investors Away

One of the challenges with holding cryptocurrency is the fact that it can be hacked from exchanges with a lax security system. Last year, hackers stole more than US$4 billion worth of digital currencies from trading platforms. Kraken and KuCoin are two other major exchange that has been hacked. With adequate security, however, many exchanges are free from hacks. 

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“The challenge for any astute investor entering into the digital asset world is often in the form of security. They see the upside, yet no fund manager would risk their reputation and investor capital on an investment that has a high chance of being hacked and the funds disappearing,” said Clive Kay, the managing director at Gallantree.

Ibiam Wayas
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Ibiam Wayas

Ibiam is an optimistic crypto journalist. He loves to associate with like-minded individuals and collaborate with them on similar projects. He spends much of his time honing his writing and critical thinking skills.

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