As a seasoned analyst with years of experience navigating the complex landscape of the cryptocurrency market, I find Kraken’s latest move towards regulatory compliance and the introduction of its licensed brokerage service in Australia for institutional clients intriguing. This strategic shift underscores Kraken’s commitment to meeting the needs of large-scale investors while maintaining a strong focus on regulatory adherence.
Kraken, a well-known cryptocurrency platform that operates centrally, recently launched a regulated brokerage service in Australia, specifically catering to high-volume investors such as institutions and large-scale entities.
The new service offers Australian clients crypto-based derivatives trading, a financial product tied to cryptocurrency prices without requiring direct ownership of digital assets.
Since November 3, eligible clients have had the opportunity to engage in cryptocurrency derivative trading on the Kraken platform. Clients who are intrigued by this service can either submit an application or verify their eligibility using the Kraken Pro mobile app.
Launching a new broker service tailored for Australia shows that Kraken is taking steps to adhere to regulations, setting itself up to manage possible large-scale liquidity investments from institutions.
New service offering details
Kraken’s latest offering, accessible via its Australian broker licensed in financial services, enables clients to explore various cryptocurrencies while enjoying the security of multi-asset collateral backing.
As a researcher delving into this field, I’m focusing on a versatile toolkit comprising derivatives that boast adaptable collateral options, compatibility with fiat currencies, stablecoins, and various cryptocurrencies. This kit also provides risk management tools and strategic trading solutions aimed at fortifying the security of our assets.
Although the new service holds promising benefits, Kraken advises investors to be aware of the significant risks linked to certain cryptocurrency derivatives, as losses could potentially outstrip the initial investment amounts.
Kraken commitment to compliance
The recent move by the exchange to enter the Australian wholesale derivatives market is a part of their efforts to comply with local regulations.
In the launch announcement, Jonathan Miller, Kraken’s general manager for Australia, said that Australian wholesale clients are seeking an option “to execute advanced trading strategies using a licensed broker.”
Miller noted that the nation serves as a “pillar” in the exchange’s worldwide activities, indicating Kraken’s dedication to adhering to regulations and catering to the growing institutional interest in digital assets.
Kraken to launch Ink blockchain in 2025
It was announced on October 24th that Kraken, the cryptocurrency exchange, intends to release its own blockchain in early 2025, which they have named “Ink.” This information was shared in a Bloomberg report.
According to the report, this fresh blockchain is designed to enable users to exchange, obtain loans on, and lend cryptographic tokens directly, eliminating the need for intermediaries, all while streamlining the process of decentralized finance (DeFi).
According to the latest updates, Ink indicates that Kraken is moving out of its existing crypto role and gravitating towards Web3 and the principles of decentralization. This strategic shift aims to make Decentralized Finance (DeFi) more user-friendly and economical for customers.
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2024-11-04 13:42