The derivatives trading will only be offered to Australian wholesale clients.
The offerings will be made under the locally regulated brokerage entity.
Kraken, which previously violated Australian financial market rules by offering fiat-based margin products, has revamped its services in the country by offering crypto-based derivatives products for local wholesale clients.
Limited to Wholesale Clients
Announced yesterday (Sunday), the American exchange highlighted that the new products are being offered under its local entity, an Australian financial services-licensed broker. The derivative products are available only to eligible Australian wholesale clients.
The exchange noted that qualified clients will have access to over 200 tradable assets. The derivatives platform will also offer multi-collateral support with fiat, stablecoins, and cryptocurrencies.
“Australian wholesale clients are looking for the ability to execute advanced trading strategies using a licensed broker backed by Kraken’s high-security standards,” said Jonathon Miller, Kraken’s GM for Australia and Rest of World.
Breached Aussie Rules
Headquartered in California, Kraken faced a setback in Australia when the local regulator alleged that the crypto exchange violated regulations by offering margin trading products. Although Kraken called the action “surprising and disappointing,” an Australian court sided with the regulator, ruling that the exchange had indeed violated local rules. However, the court order specified that only Kraken's fiat-based margin products breached regulations, not the crypto-based products.
Notably, the breaches were specifically related to products offered to Kraken's retail client base, not to wholesale clients.
“Our licensed broker offering is a testament to our ongoing commitment to regulatory compliance and to bringing exciting crypto products to market,” Miller added, “that can truly meet institutional demand for crypto assets.”
Meanwhile, Kraken is contesting actions by the US Securities and Exchange Commission, which accused the exchange of operating an unregistered securities exchange, broker, dealer, and clearing agency. Furthermore, the exchange was accused of commingling customers’ money and crypto assets with its own. Kraken recently responded to the regulator, arguing that crypto assets are not “illegal securities” and seeking a jury trial.
Kraken, which previously violated Australian financial market rules by offering fiat-based margin products, has revamped its services in the country by offering crypto-based derivatives products for local wholesale clients.
Limited to Wholesale Clients
Announced yesterday (Sunday), the American exchange highlighted that the new products are being offered under its local entity, an Australian financial services-licensed broker. The derivative products are available only to eligible Australian wholesale clients.
The exchange noted that qualified clients will have access to over 200 tradable assets. The derivatives platform will also offer multi-collateral support with fiat, stablecoins, and cryptocurrencies.
“Australian wholesale clients are looking for the ability to execute advanced trading strategies using a licensed broker backed by Kraken’s high-security standards,” said Jonathon Miller, Kraken’s GM for Australia and Rest of World.
Breached Aussie Rules
Headquartered in California, Kraken faced a setback in Australia when the local regulator alleged that the crypto exchange violated regulations by offering margin trading products. Although Kraken called the action “surprising and disappointing,” an Australian court sided with the regulator, ruling that the exchange had indeed violated local rules. However, the court order specified that only Kraken's fiat-based margin products breached regulations, not the crypto-based products.
Notably, the breaches were specifically related to products offered to Kraken's retail client base, not to wholesale clients.
“Our licensed broker offering is a testament to our ongoing commitment to regulatory compliance and to bringing exciting crypto products to market,” Miller added, “that can truly meet institutional demand for crypto assets.”
Meanwhile, Kraken is contesting actions by the US Securities and Exchange Commission, which accused the exchange of operating an unregistered securities exchange, broker, dealer, and clearing agency. Furthermore, the exchange was accused of commingling customers’ money and crypto assets with its own. Kraken recently responded to the regulator, arguing that crypto assets are not “illegal securities” and seeking a jury trial.
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
Sygnum, Managing $4.5 Billion, Restructures Crypto Fund for Institutional Push
FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
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Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
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FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
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Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
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FM's Andrea Badiola Mateos at LSEG's Cyprus event
FM's Andrea Badiola Mateos at LSEG's Cyprus event
FM's Andrea Badiola Mateos at speaking in a panel discussion at LSEG's Cyprus event
FM's Andrea Badiola Mateos at speaking in a panel discussion at LSEG's Cyprus event
The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar
The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar
The copy trading market is projected to double in size, growing from $2.2 billion to $4 billion by the end of this decade. In light of this, brokers and financial institutions are increasingly adopting PAMM, MAM, and Copy Trading solutions to scale operations and drive profitability. In this insightful webinar, Sergey Ryzhavin, Product Owner at B2COPY, outlines the advanced features of the B2COPY platform, showcasing how it enhances Copy Trading, PAMM, and MAM performance. Sergey also explores strategies for using these tools to attract new clients, improve customer engagement, and create additional revenue streams.
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The copy trading market is projected to double in size, growing from $2.2 billion to $4 billion by the end of this decade. In light of this, brokers and financial institutions are increasingly adopting PAMM, MAM, and Copy Trading solutions to scale operations and drive profitability. In this insightful webinar, Sergey Ryzhavin, Product Owner at B2COPY, outlines the advanced features of the B2COPY platform, showcasing how it enhances Copy Trading, PAMM, and MAM performance. Sergey also explores strategies for using these tools to attract new clients, improve customer engagement, and create additional revenue streams.
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Join us at FMLS:24 to connect with global institutional brokers. Secure your spot today! #fmls24
Join us at FMLS:24 to connect with global institutional brokers. Secure your spot today! #fmls24