The launch of a local presence in Australia by top cryptocurrency exchange FTX marks an important milestone in the company’s global expansion. Among the products and services offered by the newly formed company will be a full suite of exchange and OTC-based products and services, as well as derivatives.
Similarly, the FTX Australia unit will be headquartered in Sydney, Australia’s financial centre. Sam Bankman-Fried, CEO and Founder, tweeted the announcement:
The expansion comes just a few weeks after FTX Europe was created to provide its services throughout Europe and the Middle East through an unnamed investment firm. The new European division is also the first in Dubai to be awarded a license to operate a cryptocurrency exchange and trading house.
The exchange will be able to test crypto derivatives for institutional investors thanks to the license. The license comes less than a week after Dubai announced the formation of the Virtual Asset Regulatory Authority (VARA), which would oversee the cryptocurrency industry.
FTX is after competitor Binance, which recently obtained a license to operate in Bahrain, letting it expand its Middle Eastern foothold. Binance is also thought to be in negotiations to obtain a license in Dubai. This month, they entered the African market by partnering with AZA Finance, a Nairobi, Kenya-based fintech startup that claims to be the continent’s first digital currency exchange.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
KAZ
CoinCu News
Cosmos Developer Interchain Foundation sold 3000 ETH from its ICO today, totaling 21,600 ETH sold…
George Town, Grand Cayman, 22nd November 2024, Chainwire
Inflation Warning by Vanguard highlights risks during Trump’s term, citing tariffs and tighter labor markets…
Clanker token trading volume hit $59.8M on Nov 21, accounting for 14.75% of PumpFun. Fee…
Bitcoin Spot ETF inflows hit $1.005B on Nov 21, led by BlackRock’s $608M and Fidelity’s…
Discover the success story of a New York tech entrepreneur who made $72M from a…
This website uses cookies.