Following the acquisition of a key financial license in Australia, prominent cryptocurrency exchange FTX has fully opened its doors.
FTX CEO Sam Bankman-Fried announced the debut of FTX Australia during a virtual address to a crowd assembled for the country’s annual Blockchain Week.
Following FTX’s acquisition of an undisclosed company that previously held an Australian Financial Services Licence. So, the company has established a domestic presence. Other big exchanges, such as Binance and Kraken. Of course, have already created a local presence in the last two years, and this decision is in line with them.
Australians have had access to FTX’s worldwide platform for some time, but the exchange is seeking to stay ahead of the regulatory curve by satisfying policymakers and engaging “proactively” with regulators.
“We’d love to work with regulators and lawmakers on understanding the crypto”
“ecosystem and build out regulatory frameworks for analyzing them,”.
So, Bankman-Fried says.
He went on to say that FTX was “doing everything we can” to help create a “strong, healthy” ecosystem in the country, one that prioritized consumer protection.
According to a statement released on Sunday, the domestic exchange would offer most of its parent’s bells. Then, and whistles by offering its goods in the crypto derivative and spot markets.
Options contracts, futures contracts, contracts for difference. Then, and leveraged tokens will be issued by FTX Australia, which will be based in Sydney.