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Kraken News: Kraken Introduces Crypto Derivatives In Australia

November 4, 2024

Kraken Unicorn News - November 04, 2024

Following a regulatory challenge, Kraken has launched a new suite of cryptocurrency derivatives products specifically for Australian wholesale clients. This strategic move aims to enhance compliance and expand Kraken's offerings in the Australian market.

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( 00:00:33 ) Kraken Launches Derivatives for Australian Wholesale Clients After Regulatory Setback

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Kraken, a major U.S.-based cryptocurrency exchange, has launched a new suite of crypto derivatives products aimed at Australian wholesale clients. This development is part of Kraken's strategy to adhere to regulatory standards following a recent legal challenge. The initiative comes after Bit Trade Pty Ltd, Kraken's Australian operator, lost a court case against the Australian Securities and Investments Commission (ASIC) in August. The court found that Bit Trade's margin trading product did not comply with necessary regulatory measures. In response, Kraken has introduced these new derivatives offerings, which feature multi-collateral support, including fiat currencies, stablecoins, and cryptocurrencies, and encompass over 200 tradable assets. This move demonstrates Kraken's proactive efforts to address regulatory challenges and sustain its market presence in Australia.

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