fbpx
  • Price Tracker
  • Guest Post
  • Advertising & Partnership
  • Press Release
  • Editorial Policy
Coin Culture
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Business
    • Policy & Regulation
    • Tech
    • People
  • Markets
    • Forecast
      • Ethereum Price Predictions
      • Bitcoin Price Predictions
  • 101 Guide
    • Blockchain Guide
    • Trading Guide
    • Bitcoin Guide
    • DeFi Guide
    • Ethereum Guide
  • Product Reviews
    • Crypto Exchange Reviews
      • CoinSpot Review
      • Swyftx Review
      • Binance Australia Review
      • MEXC Review
      • BitMart Exchange Review
      • Bybit Australia Review
      • CoinSpot Mastercard Review
    • Exchange Comparisons
      • CoinSpot vs Swyftx vs Binance
      • Coinspot vs Binance
      • Crypto.com vs. Binance
      • CoinSpot vs Kraken
      • Swyftx vs Coinbase
  • Contact
    • About Us
    • Submit Press Release
    • Submit Querry
    • Submit Guest Post
  • Crypto Wiki
No Result
View All Result
Coin Culture
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Business
    • Policy & Regulation
    • Tech
    • People
  • Markets
    • Forecast
      • Ethereum Price Predictions
      • Bitcoin Price Predictions
  • 101 Guide
    • Blockchain Guide
    • Trading Guide
    • Bitcoin Guide
    • DeFi Guide
    • Ethereum Guide
  • Product Reviews
    • Crypto Exchange Reviews
      • CoinSpot Review
      • Swyftx Review
      • Binance Australia Review
      • MEXC Review
      • BitMart Exchange Review
      • Bybit Australia Review
      • CoinSpot Mastercard Review
    • Exchange Comparisons
      • CoinSpot vs Swyftx vs Binance
      • Coinspot vs Binance
      • Crypto.com vs. Binance
      • CoinSpot vs Kraken
      • Swyftx vs Coinbase
  • Contact
    • About Us
    • Submit Press Release
    • Submit Querry
    • Submit Guest Post
  • Crypto Wiki
No Result
View All Result
Coin Culture Logo
No Result
View All Result

Home » Kraken Introduces Crypto Derivatives Suite for Australian Wholesale Clients

Kraken Introduces Crypto Derivatives Suite for Australian Wholesale Clients

Van Tran by Van Tran
November 5, 2024
in Business
Kraken Introduces Crypto Derivatives Suite for Australian Wholesale Clients
Share on FacebookShare on Twitter

You might also like

Ethereum Foundation Reveals $788 Million in Crypto Holdings, Mostly in Ether, Amid Transparency Push

Ledger Live Introduces Native Cross-Chain Swaps Through THORChain Partnership

Worldcoin Rebrands to ‘World’ and Introduces Major Tech Upgrades

Giant crypto exchange Kraken has just launched a new suite of crypto derivatives for wholesale clients in Australia. The new product is designed to follow regulatory requirements after Kraken faced a recent legal setback in the country.

In a Monday blog post, the exchange said that the launch reflects Kraken’s commitment to the Australian market and its effort to provide secure and compliant services for institutional investors amid a developing regulatory landscape.

“Australia has long been a cornerstone of our global operation. Our licensed broker offering is testament to our ongoing commitment to regulatory compliance and to bringing exciting crypto products to market that can truly unlock institutional demand for crypto assets,” said Jonathan Miller, Kraken GM for Australia and Rest of World.

Kraken’s New Derivatives Product Include Muti-Collateral Support

Kraken’s new service offers multi-collateral support, allowing users to use fiat, stablecoins, and cryptocurrencies as collateral within a secure custodial system that encompasses over 200 tradable assets.

This launch follows an August ruling by Australia’s Federal Court against Kraken’s local entity, Bit Trade Pty Ltd.

“Australian wholesale clients are seeking advanced trading strategies through a licensed broker that adheres to Kraken’s high security standards,” Miller stated. “Our new premium product addresses our clients’ trading requirements and supports their progression in the crypto landscape.”

Hey Australia 🇦🇺 – big news!

We are now offering access to crypto-based derivatives for eligible wholesale clients via our Australian financial services licensed broker.

Read more here:https://t.co/beFhgGaGGm pic.twitter.com/wl1jbfMVjE

— Kraken Exchange (@krakenfx) November 3, 2024

To access Kraken’s derivatives products, individuals need to have net assets over AUD $2.5 million (USD $1.64 million) and a gross annual income exceeding AUD $250,000 (USD $164,000) for the last two years.

Eligible clients can start exploring the new service on Kraken’s support page, while existing clients can verify their eligibility through the Kraken Pro app.

Kraken Expresses Concerns Over Regulatory Ambiguity in Australia

Recently, Kraken voiced concerns about the lack of regulatory clarity in Australia following the Federal Court’s ruling against its fiat margin trading product.

The exchange highlighted that Australian crypto businesses and investors are navigating a “confusing and uncertain regulatory environment.”

Kraken stressed that the court’s decision reflects a broader issue of regulatory uncertainty regarding cryptocurrency in the country. “This ruling emphasises the urgent need for tailored crypto regulation.”

Last year, the Australian Securities and Investments Commission (ASIC) initiated civil proceedings against Bit Trade, a subsidiary of Kraken’s parent company, Payward Incorporated.

ASIC accused Bit Trade of not meeting legal obligations, such as performing a target market determination, before offering its margin trading product to customers.

The regulator noted that since Bit Trade’s product allowed Australians to access 5x credit of the asset’s value, it was operating as an unauthorised credit facility.

In late August, the Federal Court ruled against Bit Trade, stating that the platform violated the country’s Corporations Act section s994B(2) since October 2021.

The Australian crypto market has experienced significant growth in ownership and adoption over the past few years, with a reported crypto ownership rate of 17%, surpassing the global average of 15%.

 

Tags: Crypto ExchangeFeatureTop Crypto News Australia | CoinCulture
Van Tran

Van Tran


EDUCATION
Bachelor of Finance, University of Virginia
SUMARY Van Tran brings over a decade of experience in the financial services industry, with a specialisation in cryptocurrency. She used to serve as a Senior Crypto Writer at Coin68, where she managed ecosystem and trading guide columns and led the trading department. Her expertise includes trade review, compliance, suitability evaluation, and supervisory programs.
EXPERIENCE
Senior Crypto Writer, Coin68 (2020-2022) Managed ecosystem and trading guide columns. Led the trading department, overseeing trade review and compliance. Evaluated suitability and ensured compliance with education requirements. Implemented and supervised compliance programs for representatives.

Recommended For You

Ethereum Foundation Reveals $788 Million in Crypto Holdings, Mostly in Ether, Amid Transparency Push

by Van Tran
November 9, 2024
0
Ethereum Foundation Reveals $788 Million in Crypto Holdings, Mostly in Ether, Amid Transparency Push

The Ethereum Foundation's latest financial report shows that as of October 31, 2024, it holds $970.2 million in both crypto and non-crypto assets, with $788.7 million in cryptocurrencies,...

Read more

Ledger Live Introduces Native Cross-Chain Swaps Through THORChain Partnership

by Van Tran
October 23, 2024
0
Milan, Italy - February 2, 2018: Ledger hardware wallet for cryptocurrency with Ripple coin selection in Milan

Ledger Live has partnered with THORChain, a decentralised finance (DeFi) protocol, to introduce native cross-chain swaps on its platform, enabling users to exchange assets between different blockchains directly...

Read more

Worldcoin Rebrands to ‘World’ and Introduces Major Tech Upgrades

by Van Tran
October 20, 2024
0
Worldcoin Rebrands to 'World' and Introduces Major Tech Upgrades

Sam Altman’s Worldcoin has rebranded to "World," unveiling new features at an event in San Francisco. Altman and co-founder Alex Blania introduced major improvements, especially to the Orb...

Read more

UN Endorses Ripple and Stellar as Key Players in Global Payments Network

by Van Tran
October 13, 2024
0
UN Endorses Ripple and Stellar as Key Players in Global Payments Network

The United Nations Capital Development Fund (UNCDF) has officially endorsed Ripple and Stellar as key players in the creation of a new global payments network. This recognition emphasises...

Read more

Future Trends in Crypto Exchange Development

by Van Tran
October 10, 2024
0
Future Trends in Crypto Exchange Development

Latest Trends in Crypto Exchange Development Institutional Adoption: We have seen significant growth of institutional adoption of cryptocurrencies with a growing number of traditional financial institutions, hedge funds,...

Read more
Next Post
Trump Declares Victory - What will the US Crypto be?

Trump Declares Victory - What will the US Crypto be?

Most popular

  • Why Brands Should Adopt A ‘Hybrid DAO’ Model

    Why Brands Should Adopt A ‘Hybrid DAO’ Model

    172 shares
    Share 69 Tweet 43
  • Kucoin Review 2024: Features, Fees & More

    147 shares
    Share 59 Tweet 37
  • Cryptocurrency Regulations in Australia: A Brief Overview 2024

    165 shares
    Share 66 Tweet 41
  • Best Crypto Youtube Channels For Crypto Enthusiasts 2024

    741 shares
    Share 296 Tweet 185
  • 11 Best Crypto Debit Cards In Australia: A Curated List 2024

    423 shares
    Share 169 Tweet 106

Recommended

Ethereum Foundation Reveals $788 Million in Crypto Holdings, Mostly in Ether, Amid Transparency Push

Ethereum Foundation Reveals $788 Million in Crypto Holdings, Mostly in Ether, Amid Transparency Push

November 9, 2024
Solana Surpasses Binance Coin (BNB) as Fourth-Largest Cryptocurrency

Solana Surpasses Binance Coin (BNB) as Fourth-Largest Cryptocurrency

November 8, 2024
Trump Declares Victory - What will the US Crypto be?

Trump Declares Victory – What will the US Crypto be?

November 6, 2024
Kraken Introduces Crypto Derivatives Suite for Australian Wholesale Clients

Kraken Introduces Crypto Derivatives Suite for Australian Wholesale Clients

November 5, 2024
coin culture logo

Your Australian news source for all things cryptocurrency. Coin Culture is an independent media outlet that aims to provide an Aussie take on crypto, digital assets, and investing.

Hot Topics

  • DeFi
  • NFT
  • Gaming

Top articles

CoinSpot Review
Swyftx Review
Best Crypto Exchanges Australia
CoinSpot vs Swyftx

BROWSE BY TAG

Altcoin News Bitcoin CoinSpot Cryptocurrencies Crypto Exchange Crypto Tax DeFi Dogecoin Dogecoin News ETF Ethereum Feature FED FTX Games hacks Layer2 Markets meme Metaverse Mining NFT Opinion People Policy and Regulation Polygon SEC Security Solana News Stablecoins Tech Top Crypto News Australia | CoinCulture Trading US web3 XRP News

RECENT POSTS

  • Ethereum Foundation Reveals $788 Million in Crypto Holdings, Mostly in Ether, Amid Transparency Push
  • Solana Surpasses Binance Coin (BNB) as Fourth-Largest Cryptocurrency
  • Trump Declares Victory – What will the US Crypto be?

© 2023 CoinCulture. All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Please enter and activate your license key for Cryptocurrency Widgets PRO plugin for unrestricted and full access of all premium features.
  • bitcoinBitcoin(BTC)$103,928.00-0.75%
    BITCOIN
    24H : -0.75%
    Volume : $32,485,964,566.00
    Marketcap : $2,063,928,017,028.00
  • ethereumEthereum(ETH)$2,544.510.880%
    ETHEREUM
    24H : 0.880%
    Volume : $25,284,646,263.00
    Marketcap : $307,129,580,556.00
  • tetherTether(USDT)$1.000-0.01%
    TETHER
    24H : -0.01%
    Volume : $46,083,517,762.00
    Marketcap : $149,980,317,711.00
  • rippleXRP(XRP)$2.515.45%
    XRP
    24H : 5.45%
    Volume : $5,550,254,273.00
    Marketcap : $146,673,509,358.00
  • binancecoinBNB(BNB)$687.724.50%
    BNB
    24H : 4.50%
    Volume : $1,450,708,226.00
    Marketcap : $100,318,946,065.00
  • solanaSolana(SOL)$174.710.230%
    SOLANA
    24H : 0.230%
    Volume : $5,567,119,772.00
    Marketcap : $90,653,259,004.00
  • usd-coinUSDC(USDC)$1.0000.0100%
    USDC
    24H : 0.0100%
    Volume : $7,839,547,655.00
    Marketcap : $60,728,164,076.00
  • dogecoinDogecoin(DOGE)$0.2433.99%
    DOGECOIN
    24H : 3.99%
    Volume : $4,238,180,161.00
    Marketcap : $36,270,917,913.00
  • cardanoCardano(ADA)$0.8364.12%
    CARDANO
    24H : 4.12%
    Volume : $1,287,698,310.00
    Marketcap : $30,080,791,151.00
  • tronTRON(TRX)$0.2723.64%
    TRON
    24H : 3.64%
    Volume : $1,389,088,251.00
    Marketcap : $25,771,291,198.00

Add New Playlist

No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Business
    • Policy & Regulation
    • Tech
    • People
  • Markets
    • Forecast
      • Ethereum Price Predictions
      • Bitcoin Price Predictions
  • 101 Guide
    • Blockchain Guide
    • Trading Guide
    • Bitcoin Guide
    • DeFi Guide
    • Ethereum Guide
  • Product Reviews
    • Crypto Exchange Reviews
      • CoinSpot Review
      • Swyftx Review
      • Binance Australia Review
      • MEXC Review
      • BitMart Exchange Review
      • Bybit Australia Review
      • CoinSpot Mastercard Review
    • Exchange Comparisons
      • CoinSpot vs Swyftx vs Binance
      • Coinspot vs Binance
      • Crypto.com vs. Binance
      • CoinSpot vs Kraken
      • Swyftx vs Coinbase
  • Contact
    • About Us
    • Submit Press Release
    • Submit Querry
    • Submit Guest Post
  • Crypto Wiki

© 2023 CoinCulture. All rights reserved.