During development we partnered with Volt, a neobank licensed by...

During development we partnered with Volt, a neobank licensed by the Australian Prudential Regulation Authority, that enabled lightning fast transfer capabilities, beyond what’s traditionally available. This offering enabled high-speed deposits and withdrawals for real-time crypto trading — and it worked.

We have an operating trading service in the Selfwealth platform that has been used by internal teams and functions seamlessly.

Unfortunately, Volt have just announced they are ceasing operations. Volt cited their closure due to an extremely challenging financial climate and a lack of investor funding.

But, as always, we have a contingency plan and another banking partner is waiting in the wings. We’re reviewing a new timeline and we’ll be in touch very soon with updates.

The Selfwealth team will continue to educate with cryptocurrency content, and we have an exciting pipeline that will continue regardless of this change. You’ll see crypto experts popping up on Selfwealth channels, and even live events very soon.

If you’ve got burning questions either around crypto or this delay...

Cath Whitaker CEO and Managing Director

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Well this was the email that was sent out on the 30th June 2022 (just over 6 months ago). So their contingency plan still hasn't been implemented.... 6 months down the track. There's been ZERO communication since. I've said it once and I'll say it again - best to implement Crypto currency when the tide is low, this allows them to resolve any issues when there's a small user-base making purchases - not when there's a bull run and 100's of people trying to convert fiat to crypto at the one given time.

Other than the above, Cath needs to go and someone with a bit of business knowledge needs to step in and actually do something with this stagnant company.