Kraken has launched new crypto derivatives for Australian wholesale clients, enhancing compliance and offering secure trading options amid regulatory changes.
Cryptocurrency exchange Kraken has launched a new suite of crypto derivatives for Australian wholesale clients. This move aligns with regulatory requirements following a recent legal setback in the country. The launch demonstrates Kraken’s commitment to the Australian market and reflects the exchange’s efforts to provide secure and compliant services for institutional investors amidst a shifting regulatory landscape.
In a blog post released on Monday, Kraken announced its new licensed broker offering. This service will be limited only to qualified wholesale customers in Australia. From today, these clients can purchase crypto-based derivatives offered by Kraken’s Australian financial services licensed broker. The new offering is designed to bring flexibility and depth for managing risk. It enables the clients to be exposed to the crypto price without necessarily owning any of the assets.
Jonathon Miller, the General Manager of Kraken in Australia and the rest of the world, showed interest in the new products. In his statement, he said that Kraken has always envisioned meeting market demand before it even appears. Australian wholesale clients are demanding more sophisticated trading products through licensed brokers that provide high security. Miller also explained that this is a premium product meant to meet their trading needs and improve their experience with crypto.
Kraken Custody Integration Expands Services for Australian Clients
Kraken currently offers over 200 instruments to trade. It offers multi-collateral support, meaning that clients can hold fiat, stablecoin, and crypto in one of the most secure ways thanks to the custodial solutions. Client support services are provided 24/7, so help is always available.
Miller revealed that Kraken has benefitted from the Australian market, among its biggest markets worldwide. The release of the licensed broker offering is, therefore, an indication of the company’s continuous adherence to the laws. It also seeks to present new crypto products that may meet institutional interest in physical crypto tokens.
This is an important step in Kraken’s development plan for the Australian market. Earlier this year, in July, the company added Kraken Custody to its institutional clients in Australia. This integration enables clients to manage assets within the Kraken platform’s wider product offerings.
Potential wholesale customers in Australia can find more information about this new product on Kraken’s support page. Existing clients may check their eligibility through the Kraken Pro app without going through an intermediary. They said this puts Kraken in a better position to tap into Australia’s expanding institutional crypto sector.
