Transak Expands To Australia With Digital Currency Exchange Approval
In Brief
Transak has obtained DCE registration from AUSTRAC, allowing it to operate as a fully compliant digital currency exchange in Australia.
Web3 payments infrastructure provider Transak has announced that it has obtained Digital Currency Exchange (DCE) registration from the Australian Transaction Reports and Analysis Centre (AUSTRAC). This achievement strengthens Transak’s position as a compliant and reliable fiat-to-crypto service provider in Australia, reinforcing its dedication to meeting stringent regulatory standards.
The DCE registration serves as a crucial authorization under AUSTRAC, comparable to a Virtual Asset Service Provider (VASP) license in other regulatory frameworks. This designation allows Transak to operate as a fully compliant digital currency exchange, ensuring adherence to anti-money laundering (AML) and counter-terrorism financing (CTF) regulations while prioritizing consumer protection. Unlike general AUSTRAC registrations, the DCE designation is specifically tailored for businesses dealing with digital currencies, making it a natural fit for Transak’s mission to provide a secure and efficient fiat-to-cryptocurrency on-ramp.
“Receiving AUSTRAC’s Digital Currency Exchange registration is a significant achievement for Transak,” said James Young, Head of Compliance at Transak, in a written statement. “This approval validates our dedication to compliance, security, and consumer protection. Australia is a key market for us, and we look forward to collaborating with regulators to support the country’s rapidly growing digital asset ecosystem,” he added.
With nearly one in three Australian adults engaging with digital assets, the demand for secure and regulated cryptocurrency solutions continues to rise. However, concerns about consumer protection and regulatory clarity have kept many potential investors on the sidelines. By securing AUSTRAC registration, Transak aims to address these concerns, allowing Australians to purchase digital assets with greater confidence and ease.
Regulatory compliance has always been a key priority for Transak. The company holds licenses and registrations across major global jurisdictions, including the UK, US, EU, Canada, India, and now Australia. This widespread regulatory presence highlights Transak’s commitment to working closely with authorities worldwide to offer a secure and compliant fiat-to-cryptocurrency on/off-ramp.
Receiving AUSTRAC registration strengthens Transak’s position in the Australian market by enhancing its credibility and fostering trust among institutional clients, partners, and retail users. As a regulated entity, the company can now expand its services to a wider audience, including businesses and individuals who prioritize compliance and security. This registration also sets Transak apart from unregulated competitors, reinforcing its status as a leading provider in Australia’s cryptocurrency sector.
With a compliant and user-friendly fiat-to-crypto gateway, Transak expects to see increased transaction volumes and deeper market penetration in Australia, a recognized hub for fintech innovation. This regulatory approval also lays a strong foundation for the company’s long-term stability and continued expansion, contributing to the broader adoption of digital assets in the country.
Providing Australians With Secure And Compliant Crypto Gateway
Australia is among the global leaders in cryptocurrency adoption, with younger investors increasingly turning to digital assets. A 2023 survey found that 57% of Australian cryptocurrency holders were between the ages of 25 and 44, while ownership among Gen Z rose to 32% in 2024. Despite this growth, regulatory uncertainty remains a barrier, as 46% of Australians cite unclear regulations as a key reason for hesitancy in purchasing cryptocurrencies.
By securing AUSTRAC registration, Transak aims to address these concerns by making digital asset transactions more accessible and secure. Its streamlined fiat-to-crypto gateway lowers entry barriers for Australians interested in investing in cryptocurrencies, while full compliance with AUSTRAC’s anti-money laundering (AML) and counter-terrorism financing (CTF) requirements ensures a safe and transparent transaction environment. Regulatory approval also reinforces trust in Transak’s platform, giving users confidence in its legitimacy and security, which may further drive adoption.
This milestone not only strengthens Transak’s ability to serve individual users but also creates new opportunities to support Australian fintech platforms and institutional clients with cost-effective and efficient payment solutions tailored to the local market. With AUSTRAC registration in place, Transak is well-positioned to accelerate cryptocurrency adoption in Australia and expand its presence. The company remains committed to developing innovative crypto-payment solutions that encourage both mainstream and institutional participation in Web3.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
