Vanessa
Kraken has announced the launch of a new service tailored for Australian wholesale clients, offering crypto-based derivatives through a licensed broker. This initiative reflects Kraken’s ongoing expansion in Australia and its commitment to adhere to the stringent regulatory standards expected within the financial sector.
The service will enable wholesale clients to engage with a variety of crypto-based derivatives without needing to hold the actual cryptocurrencies. This is particularly significant as it utilizes Kraken’s Australian financial services license to offer these products, highlighting the platform’s compliance with local regulations.
Jonathon Miller, Kraken’s General Manager for Australia and Rest of World, emphasized the company’s mission to stay ahead of market demand while ensuring high security and compliance standards. “Our new premium product meets our clients’ trading needs and helps them to advance in their crypto journey,” Miller said.
The service promises over 200 tradable assets and support for multiple collaterals—including fiat, stablecoin, and crypto—held within one of the most secure crypto custodial solutions available.
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Kraken’s move comes at a time when the appetite for regulated crypto products is growing, not just in Australia but globally. Institutions and sophisticated investors are increasingly seeking out platforms that offer both a broad range of products and adherence to regulatory standards. Kraken’s service expansion in July, which introduced enhanced custodial services to Australian institutional clients, further integrates with its broader product suite.
The timing of Kraken’s announcement is also notable in light of recent regulatory developments. A U.S. federal court recently ruled favorably for Kraken in a case that determined the tokens offered on its platform are not securities. This decision is pivotal as it not only supports its operational framework but also sets a precedent that could influence how crypto assets are classified and regulated worldwide.
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As the crypto market continues to mature, the demand for diversified financial products that comply with local and international regulations will likely increase. Kraken’s new derivatives offering for Australian wholesale clients is an example of how crypto exchanges are evolving to meet these needs.
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