When the cryptocurrency industry was first launched, the only countries that showed interest in its adoption were China and the United States. While other countries weren’t even familiar with the term “cryptocurrency”, these countries were coming up with ways to dominate the particular sector.
Then, somewhere along the line, the United States of America lost interest in cryptocurrencies and developed a rather aggressive stance towards cryptocurrencies. On the other hand, China continued with its adoption of cryptocurrencies and soon became the country with the highest mining power for Bitcoin and other cryptocurrencies.
With the passage of time, the adoption rate of cryptocurrencies and blockchain technology expanded. Soon, the entire continents where these countries were, started adopting cryptocurrencies. Today, the South American, North America, and Southeast Asian regions are the fastest runners in the adoption of cryptocurrencies.
However, it doesn’t mean that the cryptocurrency sector hasn’t found its way to other regions of the world. The gulf region, the European region, and now, the Oceanian region is also gaining pace in the crypto-adoption marathon.
From the Oceanian region, the country that is adopting cryptocurrencies at the fastest rate is none other than Australia. It was only the beginning of 2021 when Australia had started growing curious about the adoption of cryptocurrencies.
Since the beginning of 2021, the country’s adoption rate surrounding cryptocurrencies has increased by an enormous number. The adoption rate in Australia is now on par with the adoption rate in any other economically strong country.
When talking about the adoption of cryptocurrencies in Australia, it is not just the adoption rate on an individual level but corporate level as well.
One of the firms that have gained a lot of growth and success in the Australian region is Bamboo. Bamboo is a micro-investment application that has been launched in Australia. Just recently, it was the CEO of Bamboo, Blake Cassidy who talked about the successful funding round their firm held.
In addition to talking about the funding round, he also talked about the way the Australian Securities Exchange (ASX) has been dealing with crypto-expansion in the country.
Just like the regulatory body in any major country or region, such as the United States or Europe, the Australian regulatory body is also aggressive towards cryptocurrencies. This is the kind of treatment from the ASX that had Cassidy talking about the regulatory authority.
He stated that ASX has a biased approach towards cryptocurrencies, which is that they are full of risks. This is the reason why the ASX would not approve any requests for the cryptocurrency firms to be listed publicly.
He stated that it is due to the same reason that several cryptocurrency-related firms from Australia are going to public listings through other countries. When it comes to getting enlisted publicly, there is no other country that does it better than the United States.
Cassidy revealed they recently held successful funding round and managed to raise $3 million from it. It was a Series A funding round and saw the participation of investors such as VP Capital, Mountain Ash Investment Management, and Orthogonal Trading.
