According to a media release from the Victoria State Government, Crypto.com, one of the world’s fastest growing cryptocurrency platforms, has chosen Melbourne for its Australian headquarters.
Victoria the ‘Blockchain Powerhouse’
The Singapore-based crypto giant says its choice will “enhance Victoria’s reputation as an emerging blockchain powerhouse” along with the rest of Australia making major strides in the crypto race. Just recently, Chainalysis opened a new office in Canberra in response to an increase in adoption of and demand for its products.
Melbourne was [also] recently selected as the host for the largest blockchain series [of meetings] in the world – The World Blockchain Summit 2022 – and is emerging as a location of choice for global companies operating in this space.
Victoria State Government media release
Crypto.com’s move comes after the Australian Treasury recently announced it would begin to implement crypto regulation, hopefully clearing the murky water crypto businesses currently try to work in.
Due to the nature of Crypto.com’s work and rapid expansion, the company requires a highly skilled workforce to build blockchain applications and services that can operate globally.
Victoria’s Tech Sector Attracts Crypto Companies
Victoria’s tech sector contributes more than A$38 billion to the state’s economy annually and supports more than 139,000 workers across 20,000 businesses.
The state Minister for Economic Development, Tim Pallas, announced that Crypto.com would set up its Australian headquarters to focus on collaboration with globally renowned Victorian universities to increase the company’s technical development capabilities.
Melbourne’s tech ecosystem is an ideal base for Crypto.com to continue to grow, develop innovative services and access world-class talent.
Karl Mohan, Asia-Pacific general manager, Crypto.com
As more crypto giants emerge, they will seek to establish themselves in places that provide regulatory, economic, and political stability. If Australia continues on this trajectory, it may well carve a space for itself as an industry leader.
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