Melbourne also has a growing fintech and crypto community, which can help create demand.

The main challenge is regulation. You’ll need to meet AUSTRAC AML/CTF requirements and check whether your services require additional financial licenses or approvals.

Finding better banking and payment partners can also take time.

Competition is another factor. There are already well-known crypto exchanges operating in Australia, so attracting users will require competitive fees, good liquidity, strong security, and a smooth user experience.

Overall, the opportunity is there, but the business needs to focus on compliance, trust, and a clear niche rather than simply launching another general crypto exchange.