What Was Dasset?
Dasset was a New Zealand-based cryptocurrency exchange that provided users with access to over 100 digital assets, including Bitcoin and Ethereum. The company was located in Auckland, New Zealand, and aimed to help create a world of universal financial access by providing secure and reliable cryptocurrency trading services to its customers.
History of Dasset in NZ
Dasset was founded in 2017 by Stephen Macaskill, a New Zealand-based entrepreneur and investor with a background in finance and technology. The company was established with aim to provide New Zealanders with a reliable and secure platform for buying, selling, and trading crypto, as they saw a lack of such crypto services in New Zealand at the time.
Initially, Dasset only offered trading services for Bitcoin and Ethereum. However, the exchange later expanded its offerings to include other cryptos such as LTC, XRP etc.
A pivotal moment arrived in 2020 when Dasset entered into a partnership with the renowned US-based exchange Bittrex, aiming to bring global standards of pricing and selection to the Oceania region. However, behind the scenes, challenges started to surface. In early 2022, Dasset encountered banking stability issues, as its incumbent banking provider withdrew its services. This disruption not only impacted the exchange’s liquidity but also hindered users’ ability to deposit and withdraw funds.
These problems escalated further in 2022 and 2023 when a growing number of Dasset customers found themselves locked out of their accounts and unable to access their funds. The exchange’s customer support became unresponsive, exacerbating the frustration and anger among the user base. The situation culminated when a disgruntled group of customers created a group chat and approached the NZ Herald, who blew the lid off the situation, with Dasset’s CEO Stephen Macaskill announcing voluntary liquidation the day after, leaving customers, suppliers, and shareholders in a dire financial situation.
Grant Thornton has been designated liquidators, the same firm taking care of Cryptopia.
