Key takeaways:
- FTX crypto exchange has secured an Australian Financial Services Licence to establish its Australian subdivision
- The Sidney-headquartered business branch will provide access to spot, derivative, and OTC products to Australian customers
- The company has recently launched a CySEC-regulated FTX Europe
FTX is bringing regulated cryptocurrency trading to Australia
Leading cryptocurrency trading platform FTX continues its global expansion with a new licensed subdivision in Australia. After launching FTX Europe to service European and Middle Eastern customers earlier this month, the exchange hopes that the Sidney-headquartered FTX Australia will help the exchange increase its market share in one of the most important financial centers in the Asia-Pacific region.
According to the company’s press release, FTX Australia will provide access to the platform’s complete suite of cryptocurrency products and services, including OTC and derivatives trading. The founder and CEO of FTX, Sam Bankman-Fried, commented on the company’s latest market expansion:
“We’re excited to bring FTX’s innovative products and services to the Australian marketplace. The establishment of FTX Australia should provide all our local clients with the confidence of trading on a registered and licensed platform.”
Bankman-Fried added that the exchange will continue to participate in policy discussions both locally and globally by proactively engaging with financial regulators. To this end, the newly-launched FTX Australia has secured an Australian Financial Services Licence, which permits it to offer OTC derivatives, contract trading, and leveraged financial products.
In related news, on Monday, the venture arm of the FTX exchange announced it is investing $100 million into mobile banking application Dave to increase the adoption of digital currencies in the United States.
