I am optimistic that the exchange is going to be launched soon
1-BPPL’s technology provider Noetic Synergy advises that all major trading platform features and functions have now been completed and are going through final stages of system testing. The last outstanding component - the integration of Know Your Client identity verification systems - is scheduled for implementation in the coming weeks.
The platform is almost ready to go and we are still waiting the last step to be 100% functional.
2-BPPL advises that the exchange will initially cater for the trading of eight (8) cryptocurrencies. The current shortlisted currencies are BTC (Bitcoin); BCH (Bitcoin cash); LTC (Litecoin); ETH (Ethereum); XRP (Ripple); ETC (Ethereum Classic); DASH (Dash); XMR (Monero).
I reckon that is enough to start with and they can include more crypto-currencies gradually
3-BPPL is also in the final stages of completing compliance requirements for AUSTRAC registration before submitting its registration application to AUSTRAC. Registration with AUSTRAC is a prerequisite for operating a cryptocurrency exchange in Australia.
Based on enrolment FAQS
How long does enrolment take?
If you provide complete and accurate information about your business, enrolling with AUSTRAC is a short process. The AUSTRAC business profile form explanatory guide lists the business information you will need to provide to enrol with AUSTRAC. To access the guide visit the Guides page of the AUSTRAC website. Once you have successfully submitted your enrolment forms online, your business is entered onto AUSTRAC’s Reporting Entities Roll.
4-BPPL has secured the services of an Australian Financial Services License holder, being a requirement for the cryptocurrency exchange to deal with real currencies and is presently finalising the legal instruments to ensure compliance with relevant security laws and regulations.
Again in the last stage
5-BPPL will be accepting pre-registration of interest in the cryptocurrency exchange services soon.
They are going to advertise and promote their website and accepting pre-registration soooon
6-The BPPL exchange will be the first cryptocurrency exchange operated by an Australian publicly listed company
This is a very important thing that it will be the first DIGITAL MONEY EXCHANGE listed in ASX
Overall, I see six positive steps toward a successful re-listing soon.
BPG Price at posting:
0.9¢ Sentiment: Hold Disclosure: Held