Australia’s leading digital retail finance and payments company, Zip Co Ltd, is considering adding cryptocurrency trading options to its customers.
Zip Co, based in Sydney, is a Buy Now, Pay Later (BNPL) company providing point-of-sale credit and digital payment solutions, founded in 2013 and listed on the Australian Securities Exchange under the code of is “Z1P “.
As the BNPL industry has become a mainstream industry for its current customers, especially young adults, Zip company announced that it will be rolling out new cryptocurrency trading services over the next 12 months the US and Australian markets, aaccording to a Reuters report Thursday.
The company also announced that it will rename its US subsidiary Quadpay to Zip and integrate ZIP under the same name.
The co-founder of Zip, Peter Gray, said that cryptocurrency trading is one of the new features users need the most, saying that:
“We know that our younger generation of customers are looking for additional products and services that are relevant to them.”
The company’s transaction volume exceeded A $ 1.76 billion (US $ 1.29 billion) in the June quarter of this year, and its transaction volume for the full year in 2020 exceeded A $ 2.6 billion (US $ 1.9 billion) .
Zip is the second largest provider of BNPL services in Australia, after its competitor Afterpay. Zip’s global expansion accelerates its transactions with European and Middle Eastern companies. The company announced that its US subsidiary Quadpay will be renamed Zip to consolidate the brand under one name.
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