Regional financial publication Stockhead reports that the Melbourne-based exchange operator — which has raised nearly $17 million through an initial coin offering (ICO) — has ambitious plans for its budding platform.
In addition to its bitcoin exchange — which it claims will support 300 cryptocurrencies and 16 fiat currencies within five years — Nauticus plans to build out a full-featured e-commerce and payments platform, as well as a "green blockchain mining center." By 2022, hopes to be equipped to perform "global know-your-customer (KYC) verification."
That's a tall order, even for a company bootstrapped by a $17 million ICO. However, cryptocurrency exchange Binance went from ICO to world's largest exchange in less than a year, and the AUSTRAC-registered startup hopes that it can accomplish a similar feat by targeting investors who find a conventional exchange order-book overwhelming.