Kraken, a leading cryptocurrency exchange, has officially launched a licensed brokerage service in Australia, targeting wholesale clients. This new initiative aims to meet the needs of institutional and large-scale investors looking for advanced trading options in the crypto derivatives market.
Starting November 3, eligible clients can trade crypto-based derivatives on Kraken’s platform. These financial products are linked to cryptocurrency prices, allowing investors to participate without directly owning the digital assets. Interested parties can determine their eligibility and apply through the Kraken Pro app.
The newly introduced service features a range of derivatives with multi-collateral support, allowing clients to use fiat currencies, stablecoins, and various cryptocurrencies as collateral. It also includes a suite of risk management tools and trading strategies designed to enhance asset security.
However, Kraken has issued a warning to clients regarding the potential risks associated with crypto derivatives, highlighting that losses in certain products can exceed initial investments significantly.
Jonathan Miller, Kraken’s general manager for Australia, emphasized the critical role of regulatory compliance in the exchange’s operations. He noted that the launch of the licensed brokerage service reflects Kraken’s commitment to adhering to local regulatory standards while effectively addressing the needs of Australian wholesale clients.
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