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Bitcoin Bitcoin (BTC) $103,185.22 ↑ 1.79%
Ethereum Ethereum (ETH) $2,339.12 ↑ 14.29%
Tether USDt Tether USDt (USDT) $1.00 ↓ -0.03%
XRP XRP (XRP) $2.36 ↑ 5.07%
BNB BNB (BNB) $635.40 ↑ 2.36%
Solana Solana (SOL) $171.73 ↑ 7.76%
USDC USDC (USDC) $1.00 ↓ -0.01%
Dogecoin Dogecoin (DOGE) $0.20 ↑ 7.27%
Cardano Cardano (ADA) $0.78 ↑ 6.67%
TRON TRON (TRX) $0.26 ↑ 2.74%
Sui Sui (SUI) $3.93 ↓ -0.01%
Chainlink Chainlink (LINK) $16.00 ↑ 4.67%
Avalanche Avalanche (AVAX) $23.31 ↑ 9.23%
Stellar Stellar (XLM) $0.30 ↑ 4.60%
Shiba Inu Shiba Inu (SHIB) $0.00 ↑ 7.08%
Hedera Hedera (HBAR) $0.20 ↑ 4.80%
Hyperliquid Hyperliquid (HYPE) $24.89 ↑ 13.19%
Bitcoin Cash Bitcoin Cash (BCH) $409.86 ↓ -2.19%
Toncoin Toncoin (TON) $3.26 ↑ 2.13%
UNUS SED LEO UNUS SED LEO (LEO) $8.69 ↓ -1.42%
Polkadot Polkadot (DOT) $4.85 ↑ 12.73%
Litecoin Litecoin (LTC) $99.07 ↑ 6.80%
Monero Monero (XMR) $308.20 ↑ 4.52%
Dai Dai (DAI) $1.00 ↓ -0.01%
Bitget Token Bitget Token (BGB) $4.47 ↑ 0.62%
Pepe Pepe (PEPE) $0.00 ↑ 20.27%
Pi Pi (PI) $0.72 ↑ 14.72%
Ethena USDe Ethena USDe (USDe) $1.00 ↓ -0.01%
Uniswap Uniswap (UNI) $6.35 ↑ 14.61%
Bittensor Bittensor (TAO) $426.14 ↑ 2.12%
NEAR Protocol NEAR Protocol (NEAR) $2.90 ↑ 11.28%
Aptos Aptos (APT) $5.54 ↑ 5.89%
Ondo Ondo (ONDO) $1.02 ↑ 7.03%
OKB OKB (OKB) $53.44 ↑ 1.83%
Aave Aave (AAVE) $209.38 ↑ 9.74%
Ethereum Classic Ethereum Classic (ETC) $19.18 ↑ 8.38%
Internet Computer Internet Computer (ICP) $5.39 ↑ 8.00%
OFFICIAL TRUMP OFFICIAL TRUMP (TRUMP) $14.02 ↑ 12.61%
Kaspa Kaspa (KAS) $0.10 ↑ 5.29%
Cronos Cronos (CRO) $0.10 ↑ 4.80%
GateToken GateToken (GT) $21.83 ↑ 0.31%
POL (prev. MATIC) POL (prev. MATIC) (POL) $0.25 ↑ 1.30%
Mantle Mantle (MNT) $0.77 ↑ 3.33%
Render Render (RENDER) $4.94 ↑ 6.36%
VeChain VeChain (VET) $0.03 ↑ 9.41%
Ethena Ethena (ENA) $0.37 ↑ 17.79%
World Liberty Financial USD World Liberty Financial USD (USD1) $1.00 ↑ 0.19%
Filecoin Filecoin (FIL) $3.03 ↑ 6.58%
Algorand Algorand (ALGO) $0.23 ↑ 7.68%
Artificial Superintelligence Alliance Artificial Superintelligence Alliance (FET) $0.84 ↑ 11.78%
Cosmos Cosmos (ATOM) $4.97 ↑ 11.82%
Celestia Celestia (TIA) $2.93 ↑ 8.56%
Arbitrum Arbitrum (ARB) $0.38 ↑ 7.91%
Bonk Bonk (BONK) $0.00 ↑ 11.65%
Sonic (prev. FTM) Sonic (prev. FTM) (S) $0.59 ↑ 5.48%
Worldcoin Worldcoin (WLD) $1.17 ↑ 14.04%
Jupiter Jupiter (JUP) $0.53 ↑ 15.72%
First Digital USD First Digital USD (FDUSD) $1.00 ↓ -0.05%
Stacks Stacks (STX) $0.98 ↑ 1.43%
Maker Maker (MKR) $1,720.82 ↑ 4.32%
KuCoin Token KuCoin Token (KCS) $11.16 ↑ 1.88%
EOS EOS (EOS) $0.86 ↑ 1.08%
Fartcoin Fartcoin (FARTCOIN) $1.32 ↑ 13.64%
Flare Flare (FLR) $0.02 ↑ 1.59%
Virtuals Protocol Virtuals Protocol (VIRTUAL) $1.94 ↑ 9.27%
Optimism Optimism (OP) $0.75 ↑ 13.30%
DeXe DeXe (DEXE) $14.77 ↑ 0.30%
Story Story (IP) $4.57 ↑ 11.00%
XDC Network XDC Network (XDC) $0.08 ↑ 3.30%
Sei Sei (SEI) $0.24 ↑ 7.62%
Immutable Immutable (IMX) $0.66 ↑ 10.12%
Injective Injective (INJ) $11.76 ↑ 8.97%
Quant Quant (QNT) $94.48 ↑ 0.05%
The Graph The Graph (GRT) $0.11 ↑ 10.68%
Curve DAO Token Curve DAO Token (CRV) $0.76 ↑ 2.84%
FLOKI FLOKI (FLOKI) $0.00 ↑ 10.70%
Lido DAO Lido DAO (LDO) $1.01 ↑ 12.82%
JasmyCoin JasmyCoin (JASMY) $0.02 ↑ 7.03%
Pudgy Penguins Pudgy Penguins (PENGU) $0.01 ↑ 0.74%
Theta Network Theta Network (THETA) $0.89 ↑ 9.63%
Four Four (FORM) $2.32 ↓ -6.07%
PayPal USD PayPal USD (PYUSD) $1.00 ↑ 0.01%
IOTA IOTA (IOTA) $0.23 ↑ 4.89%
Gala Gala (GALA) $0.02 ↑ 13.20%
The Sandbox The Sandbox (SAND) $0.33 ↑ 8.63%
Raydium Raydium (RAY) $2.87 ↑ 4.60%
Ethereum Name Service Ethereum Name Service (ENS) $22.77 ↑ 10.95%
Core Core (CORE) $0.82 ↑ 10.28%
Tether Gold Tether Gold (XAUt) $3,342.64 ↑ 0.98%
Nexo Nexo (NEXO) $1.26 ↓ -0.19%
Bitcoin SV Bitcoin SV (BSV) $41.11 ↑ 3.35%
Walrus Walrus (WAL) $0.61 ↓ -2.03%
PAX Gold PAX Gold (PAXG) $3,346.54 ↑ 0.94%
BitTorrent [New] BitTorrent [New] (BTT) $0.00 ↑ 5.97%
Brett (Based) Brett (Based) (BRETT) $0.08 ↑ 5.60%
Pyth Network Pyth Network (PYTH) $0.21 ↑ 38.98%
Helium Helium (HNT) $4.07 ↑ 3.89%
PancakeSwap PancakeSwap (CAKE) $2.30 ↑ 4.68%
dogwifhat dogwifhat (WIF) $0.72 ↑ 7.15%
Kaia Kaia (KAIA) $0.12 ↑ 0.38%
Bitcoin Bitcoin (BTC) $103,185.22 ↑ 1.79%
Ethereum Ethereum (ETH) $2,339.12 ↑ 14.29%
Tether USDt Tether USDt (USDT) $1.00 ↓ -0.03%
XRP XRP (XRP) $2.36 ↑ 5.07%
BNB BNB (BNB) $635.40 ↑ 2.36%
Solana Solana (SOL) $171.73 ↑ 7.76%
USDC USDC (USDC) $1.00 ↓ -0.01%
Dogecoin Dogecoin (DOGE) $0.20 ↑ 7.27%
Cardano Cardano (ADA) $0.78 ↑ 6.67%
TRON TRON (TRX) $0.26 ↑ 2.74%
Sui Sui (SUI) $3.93 ↓ -0.01%
Chainlink Chainlink (LINK) $16.00 ↑ 4.67%
Avalanche Avalanche (AVAX) $23.31 ↑ 9.23%
Stellar Stellar (XLM) $0.30 ↑ 4.60%
Shiba Inu Shiba Inu (SHIB) $0.00 ↑ 7.08%
Hedera Hedera (HBAR) $0.20 ↑ 4.80%
Hyperliquid Hyperliquid (HYPE) $24.89 ↑ 13.19%
Bitcoin Cash Bitcoin Cash (BCH) $409.86 ↓ -2.19%
Toncoin Toncoin (TON) $3.26 ↑ 2.13%
UNUS SED LEO UNUS SED LEO (LEO) $8.69 ↓ -1.42%
Polkadot Polkadot (DOT) $4.85 ↑ 12.73%
Litecoin Litecoin (LTC) $99.07 ↑ 6.80%
Monero Monero (XMR) $308.20 ↑ 4.52%
Dai Dai (DAI) $1.00 ↓ -0.01%
Bitget Token Bitget Token (BGB) $4.47 ↑ 0.62%
Pepe Pepe (PEPE) $0.00 ↑ 20.27%
Pi Pi (PI) $0.72 ↑ 14.72%
Ethena USDe Ethena USDe (USDe) $1.00 ↓ -0.01%
Uniswap Uniswap (UNI) $6.35 ↑ 14.61%
Bittensor Bittensor (TAO) $426.14 ↑ 2.12%
NEAR Protocol NEAR Protocol (NEAR) $2.90 ↑ 11.28%
Aptos Aptos (APT) $5.54 ↑ 5.89%
Ondo Ondo (ONDO) $1.02 ↑ 7.03%
OKB OKB (OKB) $53.44 ↑ 1.83%
Aave Aave (AAVE) $209.38 ↑ 9.74%
Ethereum Classic Ethereum Classic (ETC) $19.18 ↑ 8.38%
Internet Computer Internet Computer (ICP) $5.39 ↑ 8.00%
OFFICIAL TRUMP OFFICIAL TRUMP (TRUMP) $14.02 ↑ 12.61%
Kaspa Kaspa (KAS) $0.10 ↑ 5.29%
Cronos Cronos (CRO) $0.10 ↑ 4.80%
GateToken GateToken (GT) $21.83 ↑ 0.31%
POL (prev. MATIC) POL (prev. MATIC) (POL) $0.25 ↑ 1.30%
Mantle Mantle (MNT) $0.77 ↑ 3.33%
Render Render (RENDER) $4.94 ↑ 6.36%
VeChain VeChain (VET) $0.03 ↑ 9.41%
Ethena Ethena (ENA) $0.37 ↑ 17.79%
World Liberty Financial USD World Liberty Financial USD (USD1) $1.00 ↑ 0.19%
Filecoin Filecoin (FIL) $3.03 ↑ 6.58%
Algorand Algorand (ALGO) $0.23 ↑ 7.68%
Artificial Superintelligence Alliance Artificial Superintelligence Alliance (FET) $0.84 ↑ 11.78%
Cosmos Cosmos (ATOM) $4.97 ↑ 11.82%
Celestia Celestia (TIA) $2.93 ↑ 8.56%
Arbitrum Arbitrum (ARB) $0.38 ↑ 7.91%
Bonk Bonk (BONK) $0.00 ↑ 11.65%
Sonic (prev. FTM) Sonic (prev. FTM) (S) $0.59 ↑ 5.48%
Worldcoin Worldcoin (WLD) $1.17 ↑ 14.04%
Jupiter Jupiter (JUP) $0.53 ↑ 15.72%
First Digital USD First Digital USD (FDUSD) $1.00 ↓ -0.05%
Stacks Stacks (STX) $0.98 ↑ 1.43%
Maker Maker (MKR) $1,720.82 ↑ 4.32%
KuCoin Token KuCoin Token (KCS) $11.16 ↑ 1.88%
EOS EOS (EOS) $0.86 ↑ 1.08%
Fartcoin Fartcoin (FARTCOIN) $1.32 ↑ 13.64%
Flare Flare (FLR) $0.02 ↑ 1.59%
Virtuals Protocol Virtuals Protocol (VIRTUAL) $1.94 ↑ 9.27%
Optimism Optimism (OP) $0.75 ↑ 13.30%
DeXe DeXe (DEXE) $14.77 ↑ 0.30%
Story Story (IP) $4.57 ↑ 11.00%
XDC Network XDC Network (XDC) $0.08 ↑ 3.30%
Sei Sei (SEI) $0.24 ↑ 7.62%
Immutable Immutable (IMX) $0.66 ↑ 10.12%
Injective Injective (INJ) $11.76 ↑ 8.97%
Quant Quant (QNT) $94.48 ↑ 0.05%
The Graph The Graph (GRT) $0.11 ↑ 10.68%
Curve DAO Token Curve DAO Token (CRV) $0.76 ↑ 2.84%
FLOKI FLOKI (FLOKI) $0.00 ↑ 10.70%
Lido DAO Lido DAO (LDO) $1.01 ↑ 12.82%
JasmyCoin JasmyCoin (JASMY) $0.02 ↑ 7.03%
Pudgy Penguins Pudgy Penguins (PENGU) $0.01 ↑ 0.74%
Theta Network Theta Network (THETA) $0.89 ↑ 9.63%
Four Four (FORM) $2.32 ↓ -6.07%
PayPal USD PayPal USD (PYUSD) $1.00 ↑ 0.01%
IOTA IOTA (IOTA) $0.23 ↑ 4.89%
Gala Gala (GALA) $0.02 ↑ 13.20%
The Sandbox The Sandbox (SAND) $0.33 ↑ 8.63%
Raydium Raydium (RAY) $2.87 ↑ 4.60%
Ethereum Name Service Ethereum Name Service (ENS) $22.77 ↑ 10.95%
Core Core (CORE) $0.82 ↑ 10.28%
Tether Gold Tether Gold (XAUt) $3,342.64 ↑ 0.98%
Nexo Nexo (NEXO) $1.26 ↓ -0.19%
Bitcoin SV Bitcoin SV (BSV) $41.11 ↑ 3.35%
Walrus Walrus (WAL) $0.61 ↓ -2.03%
PAX Gold PAX Gold (PAXG) $3,346.54 ↑ 0.94%
BitTorrent [New] BitTorrent [New] (BTT) $0.00 ↑ 5.97%
Brett (Based) Brett (Based) (BRETT) $0.08 ↑ 5.60%
Pyth Network Pyth Network (PYTH) $0.21 ↑ 38.98%
Helium Helium (HNT) $4.07 ↑ 3.89%
PancakeSwap PancakeSwap (CAKE) $2.30 ↑ 4.68%
dogwifhat dogwifhat (WIF) $0.72 ↑ 7.15%
Kaia Kaia (KAIA) $0.12 ↑ 0.38%
Home Cryptocurrency

Kraken Empowers Australian Investors with Advanced Crypto Trading Options

Victoria James by Victoria James
4 November 2024
in Cryptocurrency, News
Reading Time: 4 mins read
0
Kraken Empowers Australian Investors with Advanced Crypto Trading Options

Kraken Empowers Australian Investors with Advanced Crypto Trading Options

The major U.S.-based cryptocurrency exchange, Kraken, is rolling out a tailored suite of crypto derivatives specifically for institutional traders in Australia. This strategic pivot comes after facing compliance difficulties regarding local regulations that have required reworking its approach. Meeting rising demand from large organizations seeking secure regulatory-abiding options, Kraken now offers a licensed brokerage that enables access to future cryptocurrency contracts without owning the underlying assets.

WhatsApp Image 2024 11 04 at 08.16.30

Table of Contents

Toggle
    • YOU MAY BE INTERESTED
    • Crypto.com to Bring Bitcoin to UAE Gas Stations This Year
    • Ripple XRP Whales Buy Big After $50M SEC Settlement, Price Jumps 27%
  • Competing in a Jam-packed Marketplace
  • Eligibility and How to Access Kraken’s New Services
  • Australia’s Shifting Stance Towards Crypto Derivatives
  • Kraken’s Prospects Depend on Gaining Trust and Compliance
  • Final Impressions

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This novel solution directly appeals to high-net-worth individuals and enterprises hoping to gain exposure to digital currency markets while managing risk through futures. Kraken’s service supports trading collateral backed by fiat money, stablecoins, or cryptocurrency on over 200 digital assets within a robust custodial structure. Focusing on wholesale clientele demands, the exchange provides one of the most rigorously vetted custodial solutions for safely navigating regulations—a stark contrast to unregulated competitors.

The new product launch underscores Kraken’s commitment to remaining active in ‘Down Under’ despite facing previous legal hurdles. An Australian court ruled the exchange’s local entity, Bit Trade, did not fully meet obligations for target market determinations and risk protections under the Corporations Act, leading to reforms of earlier margin trading and other products. Kraken aims to address such compliance requirements through tailored options befitting sophisticated traders.

Kraken Empowers Australian Investors with Advanced Crypto Trading Options

Competing in a Jam-packed Marketplace

Australia’s crypto market already has numerous players furnishing derivative products, like exchanges such as Swyftx and OKX. As Kraken returns to the scene, it faces the obstacle of distinguishing itself from competitors with related offerings. Kraken’s focus on regulatory compliance and advanced security steps is anticipated to attract wholesale clients, positioning it to be a solid substitute for institutions searching for dependable and compliant crypto trading solutions.

Jonathon Miller, Kraken’s Overall Manager for Australia, highlighted that the company’s most recent effort addresses a clear necessity among institutional clients for certified, protected trading options. “Australian wholesale clients are searching for the capability to execute advanced trading tactics utilizing a certified broker supported by Kraken’s high-security expectations,” Miller mentioned.

Eligibility and How to Access Kraken’s New Services

Kraken’s derivative services are solely accessible to Australian wholesale clients, characterized as persons or entities assembly certain monetary thresholds. To qualify, an individual must have a web worth exceeding $2.5 million AUD (around $1.64 million USD) or a gross yearly earnings of more than $250,000 AUD (about $164,000 USD) over the past two fiscal years.

Certified clients can start accessing Kraken’s new derivatives platform by means of Kraken’s assist page, with additional instruments available on the Kraken Professional app to verify eligibility and facilitate trading. This selective method displays Kraken’s dedication to delivering a high-quality, secure buying and selling experience for professional purchasers while adhering to Australian regulatory standards.

Australia’s Shifting Stance Towards Crypto Derivatives

The entry of Kraken into Australia’s derivatives market underscores the nation’s evolving approach to cryptocurrency regulation. Earlier this year, the Australian Securities and Investments Commission pursued legal action against Bit Trade for failing to meet obligations tied to its margin trading product, highlighting ASIC’s commitment to enforcing compliance and protecting consumers in regulating high-risk offerings such as crypto derivatives.

By designing its new derivatives product to align with regulatory expectations, Kraken aims to provide a fully compliant trading option that minimizes risk for users. The company’s focus on transparency and adherence to laws could strengthen its reputation among Australians as a trustworthy player in the country’s cryptosphere. However, meeting ASIC’s strict standards will be no simple task if Kraken hopes to regain lost ground.

Kraken Empowers Australian Investors with Advanced Crypto Trading Options

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Kraken’s Prospects Depend on Gaining Trust and Compliance

As Kraken re-enters Australia’s competitive cryptocurrency market, much will hinge on its ability to earn wholesale clients’ trust and satisfy ASIC’s compliance requirements. In offering regulated crypto derivative instruments, Kraken hopes to find its footing once more while giving institutional investors secure, rules-abiding choices.

Should Kraken succeed with its latest product, other Australian crypto entities may follow suit, potentially shaping both evolutions in policy and norms within the industry. For institutions seeking stability in an increasingly regulated environment, Kraken’s offering could represent a promising way forward. Only time will tell if the exchange can walk the line between innovation and oversight.

Final Impressions

Kraken’s strategic shift to provide derivatives exclusively for approved Australian institutional investors demonstrates the exchange’s dedication to reacting pragmatically to intricate regulatory landscapes. As cryptocurrency policies continue developing on a worldwide scale, platforms similar to Kraken that emphasize adherence to rules and customer safeguards may ultimately retain an advantageous position.

Whether Kraken’s refreshed tactic in Australia will warrant accomplishment stays uncertain, but for the present, it portrays a resilient reentry into that industry.

Stay connected with TurkishNY Radio by following us on Twitter and LinkedIn, and join our Telegram channel for more news.

 

Tags: Australia’s Corporations Actcrypto derivativesKrakenMargin Trading
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Victoria James

I offer insightful, well-researched, and engaging news coverage writing. Helping readers cut through the noise with ideas about market movements, blockchain technologies, regulatory developments, and more.

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