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Kraken, one of the longest-operating crypto platforms globally, has introduced a new offering designed to cater to Aussie wholesale clients seeking access to a range of crypto-based derivatives products. This marks a notable step for Kraken in expanding its service portfolio for the Australian market.
Kraken’s new licensed broker service, which launches today, provides eligible wholesale clients with the opportunity to engage in crypto derivatives trading. This offering is structured to allow clients flexibility in managing their risk and gaining exposure to crypto price shifts without directly holding the underlying assets.
Meeting Market Demand with Advanced Trading Options
Jonathon Miller, Kraken’s General Manager for Australia and Rest of World, explained the significance of this service for Australian clients. “Over our 13-year history, we have aimed to stay a step ahead of market demand,” he said. “Aussie wholesale clients are keen on executing advanced trading strategies using a licensed broker backed by Kraken’s strong security standards.”
Miller highlighted how the offering meets these demands, saying, “Our new premium product is built to support clients in their trading needs, enabling them to progress in their crypto journey.” Kraken’s approach caters to clients interested in derivative products without requiring them to hold crypto directly, adding an additional layer of strategic flexibility for traders.
Robust Multi-Collateral Support and Custodial Solutions
Kraken’s licensed broker service will support over 200 tradable assets and provide multi-collateral support options, including fiat currency, stablecoin, and crypto. This collateral is held in a custodial solution recognised for its robustness in the crypto market, ensuring high security for client assets.
Kraken’s offering includes round-the-clock client support, a factor the company believes enhances the accessibility and convenience of the new service. The custodial solution’s reputation for security and reliability is likely to appeal to wholesale clients who value secure asset management options.
Commitment to Aussie Market and Regulatory Compliance
Miller also acknowledged Kraken’s long-standing focus on the Australian market. “Australia has long been a cornerstone of Kraken’s global operation,” he said. “Our licensed broker offering reflects our ongoing commitment to regulatory compliance and to introducing innovative crypto products that meet market demands.”
Kraken’s focus on compliance aligns with the broader industry trend as regulators worldwide are increasingly scrutinising crypto services. Kraken’s approach may strengthen its standing with clients and regulators, a factor that could drive the adoption of its new offering.
Access and Eligibility
Prospective Aussie wholesale clients interested in exploring Kraken’s broker services can find more information through Kraken’s Support page. Existing wholesale clients can check their eligibility for the new offering directly from the Kraken Pro app, which provides a streamlined path for those ready to engage with the broker service. For more details, visit kraken.com.
Last Updated on November 4, 2024 by Nick Ross
