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Aussie neobank partners with crypto exchange

Neobank Volt has partnered with digital currency exchange BTC Markets.

The partnership will provide integrated banking capabilities to BTC Markets customers, initially via access to a corporate cash management account with real-time notifications and payment automation.

In the coming months, Volt said, BTC Markets will invite its customers to open Volt bank accounts, allowing customers a real-time trading experience with greater security.

As a result, instead of depositing into BTC Markets trust accounts, BTC Markets customers will use their own Volt accounts embedded within the BTC platform.

"We are excited to team up with another homegrown Australian fintech pioneer. BTC Markets was one of the first and remains one of the largest and most trusted digital currency exchanges in Australia. This partnership will enable BTCM to stay at the forefront of a rapidly-growing industry," Volt chief customer and partnerships officer Andrew Clouston said.

"We've been particularly interested to see digital currencies grow in popularity, credibility, and security over the past few years. We believe BTC Markets and Volt are primed to deliver safe and secure banking access to support Australians seeking to trade in digital assets."

BTC Markets chief executive Caroline Bowler added that the partnership should provide an extra layer of security for BTC customers.

"Increased speed will result from our customers gaining almost instant access to Australian dollars for trades through native and integrated banking solutions such as bank accounts. Greater stability will arise out of this first-of-its-kind relationship between a bank and a crypto exchange in Australia," she said.

"Both of these factors will generate customer confidence that their funds are in place and available, and that they will be able to time the market far more easily - which is absolutely critical in such a dynamic industry as crypto. This partnership demonstrates that we are progressing in the right direction of a financially inclusive future where crypto sits alongside mainstream finance."

Read more: BTC MarketsVoltAndrew CloustonBTCMCaroline Bowler