Transak has received AUSTRAC Digital Currency Exchange registration in Miami, USA, solidifying its position as a trusted and compliant crypto service provider across Australia. This regulatory achievement underscores Transak’s commitment to compliance, enabling it to offer secure fiat-to-crypto transactions.
AUSTRAC mandates DCE registration as a key regulatory requirement, similar to the Virtual Asset Service Provider (VASP) license in other jurisdictions. This registration ensures that Transak operates in alignment with Australian regulatory standards, including full compliance with anti-money laundering (AML) and counter-terrorism financing (CTF) regulations.
With nearly one-third of Australia’s population using digital assets, the demand for secure and regulated cryptocurrency solutions continues to grow. However, slow adoption among investors remains due to concerns over consumer protection and regulatory transparency. By securing AUSTRAC registration, Transak provides Australians with a trusted solution for digital asset transactions.
Transak’s global business operations prioritize regulatory compliance. The company has obtained legal permits to operate in key markets, including the UK, US, EU, and Canada, and has now expanded to Australia and India.
With its comprehensive regulatory oversight, both individual users and businesses engaging with Transak can conduct transactions securely and in compliance with regulations.
Through strategic regulatory partnerships in various markets, Transak delivers trusted Web3 payment services, promoting DeFi adoption, digital commerce growth, and blockchain innovation.
Transak’s AUSTRAC registration strengthens its position in the Australian crypto finance sector by reinforcing its legitimacy and competitive edge.
AUSTRAC, Australia’s financial intelligence and AML/CTF regulatory body, oversees digital currency exchanges, money services businesses (MSBs), and financial institutions. Transak’s DCE registration ensures it remains compliant with Australian regulations, positioning it as a trusted financial gateway for crypto transactions.
“Receiving AUSTRAC’s Digital Currency Exchange registration is a significant achievement for Transak,” said James Young, Head of Compliance at Transak. “This approval validates our dedication to compliance, security, and consumer protection. Australia is a key market for us, and we look forward to working closely with regulators to support the country’s rapidly growing digital asset ecosystem.”
Australia ranks among the world’s leading nations in cryptocurrency adoption, with younger generations driving market growth. A 2023 survey revealed:
By securing AUSTRAC registration, Transak addresses key challenges with three main benefits:
AUSTRAC registration positions Transak to accelerate crypto adoption and expand its market share in Australia. The company remains committed to developing innovative fiat-to-crypto solutions, supporting both traditional financial institutions and individual users in Web3 adoption.
Transak will collaborate with regulators and industry leaders to drive compliant growth, ensuring Australians have access to a secure and transparent crypto ecosystem.
For more details, visit Transak’s website.
Transak is a leading Web3 payments infrastructure provider, supporting over 8.3 million users across 160+ countries. The company operates more than 450 platforms, offering fiat-to-crypto on/off-ramps, NFT checkout services, Web3 solutions, simplified KYC processes, compliance tools, payment processing, and customer support.
Headquartered in Miami, USA, Transak has offices in London, Milan, Dubai, and Hong Kong, with its technology hub based in Bengaluru, driving Web3 payment innovation.
For more information, visit transak.com or follow Transak on X at x.com/transak and LinkedIn at linkedin.com/company/transak.
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Transak Expands To Australia With AUSTRAC Digital Currency Exchange Approval – FinanceFeeds
