The founders of the company CoinJar Asher Tan and Ryan Zhou are aiming not just to become the leading crypto currency bitcoin exchange service in Australia, but also to widen their business globally. Currently the exchange provider is describes by experts as very fast and easy to use in comparison with the existing competitors. This features attracted several specialists as investors in the developing idea. Among the them are very respectful and recognized names of the branch – Niki Scevak from Blackbird Ventures (leader of the investment team), businessman Torsten Hoffman, RetailMeNot owners Guy King and Bevan Clark, game developer Rob Murray, technology investor Chris Hitchen.
The CoinJar service started in the beginning of the year with 20000 dollars received from the incubator. This time took both founders and developers to produce not only a successful page offering exchange services, payment collection for merchants, electronic wallets, but also to launch an iOS application performing the same actions on the go.
The rates and fees are also very democratic in comparison with similar services from Australia – 2% are requested from buying and 1,1% from selling bitcoins. CoinJar has already attracted more than 10000 users and see the potential to go outside the country and make a serious competition to experienced players.
Chris Hitchen is very excited on the start of their cooperation – he describes the service as “liquid”, but the vision and product as “strong”. The CEO Tan sees great perspectives of the business when more people will start using bitcoins. Very soon customers will see the advantages of the crypto currency and more merchants will start accepting the coin.
A motivation for the positive development of the bitcoin community might be the recent news from China and Singapore, where huge companies started to consider bitcoin as a fair payment method. This positive news has overshadowed the Silk Road termination and the custody of its founder Ulbricht.
It is necessary to mention that there are still opponents of bitcoin in Australia. The Australia’s Commonwealth Bank has terminated the accounts of the CoinJar Company, as well as private accounts of the founders Asher Tan and Ryan Zhou. No reason was named upon the official request. However, the other representative from the “big four” major banks of Australia – the NAB – has offered its services to the perspective startup and its workers.
Also as an advantage of the investors of CoinJar Balckdird Ventures should be mentioned as a major investment facility of the country having very close connection with the Silicon Valley also interested in startups and perspective ideas not only form the States, but all around the world.
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