An ASX spokesperson said the exchange was "well aware" of the growing interest and enhancing credibility of crypto companies in Australia, but said it had to strike a balance to protect the interests of the broader market.
“With the regulatory guidance now in place for crypto ETFs, ASX is working closely with issuers and revising its own framework of rules to ensure that appropriate crypto-related offerings can be brought to market in a prudent manner. The initial focus is on crypto ETFs, and the first ASX listing is expected this week, ”they said.
Cassidy hopes that Bamboo's $ 4 million Series A will help fuel its growth in the US, where it believes there is a gap in the market that the startup could fill. The Bamboo app aims to give investors an easier way to buy cryptocurrencies like bitcoin and ethereum, even through rounded micro-investments.
Investors in the round include Australia's crypto hedge fund Orthogonal Trading, fund manager VP Capital, several family offices, and some unnamed `` social influencers, '' the latter of which, according to Cassidy, was key in helping. the company to reach its goal of getting 50,000 US users forward. of its launch to the market.
The increase will also help Bamboo develop its local offering, which is used by around 35,000 people, including a new service to make it easier for investors with self-managed superfunds to add cryptocurrencies to their portfolio, something the CEO hopes will become each time. more common in the next decade.
"A majority of [SMSFs] someday it will have some kind of token or crypto there, ”he said. “The returns are truly unmatched, it is the best performing asset class. By not having a small portion of the digital assets there, those people will underperform those who do. "
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