HONG KONG, March 13, 2023 /PRNewswire/ — Doo Group’s subsidiary brand, Doo Payment and Exchange, achieved new heights by acquiring an authorized remittance and digital currency exchange service provider, namely Doo Exchange AU Pty Ltd, which is regulated by the Australian Transaction Reports and Analysis Centre (AUSTRAC). This momentous milestone signifies the strength and tenacity of Doo Group in its global strategic roadmap.
The successful acquisition of Doo Exchange AU Pty Ltd begins a new chapter of Doo Group in the digital payment exchange sector.
Safeguarding Clients Benefits With The Authorization From World-Top Financial Regulator
AUSTRAC is the Australian Government agency formed in 1989. It is one of the world-leading financial regulators that mandated under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) to detect, deter and disrupt criminal abuse of the financial system.
To fulfil a financial system free from criminal abuse, AUSTRAC has been evolving constantly to address challenges brought by digitalization. Their financial intelligence specialists are collaborating with law enforcement and national security partners to identify national security threats, as well as detecting and disrupting criminal networks and the proceeds of their crimes.
Professional Service Offerings
With the authorization of AUSTRAC, Doo Exchange AU Pty Ltd, is allowed to provide clients with the following services:
(1) Remittance service provider (Independent remittance dealer number: IND100812107-001)
A remittance service accepts instructions from customers to transfer money or property to a recipient. Remittance service providers are also known as ‘money transfer businesses’
(2) Digital currency exchange service provider (Digital currency exchange registered provider number: DCE100812107-001)
A digital currency exchange service provider exchanges:
a. Money (Australian or foreign currency) for digital currency; or
b. Digital currency for money (Australian or foreign currency)
As part of operating as digital currency exchange business.
For more information, please search "Doo Exchange AU Pty Ltd" on AUSTRAC official website: https://online.austrac.gov.au/ao/public/rsregister.seam
The authorization from AUSTRAC is a benchmark for Doo Group in forging a comprehensive financial system globally. In the future, Doo Group will be striving for more great achievements to keep its clients at the forefront of the industry.