Nauticus Blockchain, an Australia- based digital financial marketplace, announced on Monday it is now seeking $25 million through its new equity fundraising efforts. The Nauticus Exchange is described as an Australia Government regulated crypto and fiat currency exchange. The platform is egistered with AUSTRAC and claims to offer one of the lowest trading fees in the Australian market of 0.1% per transaction. Users who pay fees in NTS (Nauticus Coins) access a 50% discount, bringing trading fees to just 0.05%.
“Nauticus will expand into foreign exchange, payments processing and security tokens across the course of 2019. Founders Bryan Ng and Jonathan Chang’s are motivated by the goal of creating tools to help people advance in knowledge and to gain control of their finance. The exchange’s easy to use interface caters for both advanced and everyday traders.”
Nauticus also reported that with 280,000 accounts in 84 countries around the world, it is well on its way to becoming Australia’s first globally focused digital currency exchange. Funds from the equity round will enable Nauticus to onboard 2.9 million users by 2022 and support an extensive cross-platform marketing spend, cross-jurisdiction banking and financial licenses and expand the team internationally. Conservative discounted cash flow analysis values the business post raise at $74.2 million. Ng added:
“We urge people who share our vision of ethical, low cost and borderless finance to join us on this journey. Imagine what a difference it would make in a developing country if 100% of the money arrived in the local economy, rather than 90-95% after the wire transfer companies have taken their cut.”
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