Wired article New Zealand’s largest bitcoin exchange, BitNZ, is expected to launch an exchange for foreign bitcoin purchases.
The exchange will be called CoinLab, and it plans to launch a bitcoin wallet in December.
The company said on its website that it plans “to launch a Bitcoin ATM in New Zealand, and to offer a cryptocurrency exchange.”
The exchange is expected for an undisclosed period of time.
The New Zealand Securities Authority will not comment on pending legislation.
Bitcoin’s price fell from $4,400 on December 9, when BitNZ announced its new exchange, to about $1,000 today, according to CoinDesk.
CoinLab said it would be the first New Zealand exchange to accept bitcoin.
Coinlab’s bitcoin wallet, Bitcoin ATMs, have not been widely available, though a CoinLab spokesperson said that the company has been working with “bitcoin developers and operators around the world.”
The company is also the largest seller of foreign bitcoin, with more than $5 million worth of bitcoins, according, to CoinMarketCap.
The currency’s volatility, however, has helped it earn the moniker of the “Bitcoin Bubble.”
BitNZ’s website says the exchange has “exchanged more than 100,000 bitcoins since its launch.”
The New Zealander’s exchange is the largest and most active in the New Zealand bitcoin market, with customers including Bitcoin Investment Trust, Bitcoin.co.nz, CoinLab and Bitpay.
BitNZ declined to provide further details about its exchange’s plans.