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Kraken Unveils Licensed Brokerage Service for Wholesale Clients in Australia

Kraken Unveils Licensed Brokerage Service for Wholesale Clients in Australia

Kraken introduces a licensed brokerage service in Australia, offering wholesale clients access to crypto derivatives for secure, regulation-compliant trading.

Image of Tanishq BodhTanishq BodhNews

Nov 4, 2024

Written By Tanishq Bodh

Author: Tanishq Bodh

Written On: Mon, 04 Nov 2024 15:41:26 GMT

Kraken, a centralized cryptocurrency exchange, has launched a new brokerage service in Australia, designed to provide crypto-based derivatives trading for wholesale clients. This service caters to institutional and large-scale investors, enabling them to gain exposure to cryptocurrency price fluctuations without needing to hold the actual digital assets.

Key Features of Kraken’s New Service:

  • Crypto Derivatives Access
    The licensed brokerage allows Australian clients to engage in derivatives trading tied to cryptocurrency prices, a financial product that eliminates the need for direct asset ownership.
  • Multi-Collateral Support
    Clients can utilize fiat currencies, stablecoins, or cryptocurrencies as collateral, increasing flexibility and risk management options.

Kraken’s General Manager for Australia, Jonathon Miller, highlighted the firm’s focus on regulatory compliance and its commitment to supporting Australia’s evolving crypto market. The new offering aims to deliver a secure trading experience backed by Kraken’s established standards, focusing on institutional-grade service for Australia’s wholesale investors.

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