Kraken is one of the world’s largest bitcoin exchanges and they’ve just announced the official launch of its Australian operations in Sydney.
Starting today, clients on Kraken can fund their account and trade with the Australian dollar (AUD). The AUD becomes Kraken’s seventh fiat currency, joining USD, CAD, CHF, EUR, GBP and the JPY.
Clients will be able to trade it against Kraken’s most popular cryptocurrencies, including Bitcoin, Ethereum, and Litecoin along with Ripple, Bitcoin Cash and Tether against the AUD.
Clients based outside the U.S. will also have the opportunity to trade AUD FX pairs against the USD, euro and Japanese yen with industry-low order minimums, making it even easier to gain exposure to more assets while avoiding friction when executing orders on Kraken.
Co-founded in 2011 by CEO Jesse Powell, Kraken is a global, cryptocurrency exchange that is consistently rated the most secure digital asset exchange in the world.
It offers a wide suite of sophisticated products that caters to all investor types – retail, spot, derivatives, over-the-counter, margin, and indices – all of which meet the company’s standards for fast and seamless execution.
Today’s launch follows Kraken’s acquisition of Australia’s longest-running cryptocurrency operation Bit Trade in January this year, and it represents Kraken’s continued pursuit of building bridges between crypto and the traditional financial markets.
Commenting on the announcement, Kraken Australia managing director Jonathon Miller said the launch comes at an exciting time as a growing swathe of investors looks to increase their exposure to crypto assets.
“We’re thrilled to be launching Kraken Australia today at a time when Australian investors increasingly turn toward cryptocurrencies to diversify their portfolios.
We are entering the market at just the right time with a market-leading digital asset exchange that will resonate with Australians looking to diversify into some of the world’s most exciting crypto assets.”
Kraken Australia managing director Jonathon Miller said.
Interest in cryptocurrency has been on the rise as Kraken has seen a record number of signups since March. Miller notes that Kraken has hired 200 new workers to meet this new client demand.
In addition to Kraken’s low trading fees in Australia, it will now offer instant funding to domestic clients who are making deposits through Osko and PayID enabled Australian banks.
For more on Kraken fiat funding options, please click here.