Home Stocks Binance to offer crypto CFDs in Australia LeapRate

Binance to offer crypto CFDs in Australia LeapRate

22
0


Binance’s Australian subsidiary, Binance Australia Derivatives, has announced that crypto contract for differences (CFDs) are now available for wholesale Australian customers under an Australian Financial Services (AFS) licence.

In August last year, Binance restricted crypto derivatives products in Australia, following a warning the Australian regulator issued against trading crypto through unlicensed entities.

Binance

Leigh Travers, Director of Binance Australia Derivatives said:

Launching crypto derivatives under an AFSL delivers on our core strategy of becoming a regulated institution in Australia. The Binance Australia Derivatives products will enable wholesale customers the opportunity to hedge their crypto portfolio as well as grow the total size of Australian crypto markets.

Changpeng Zhao, Chief Executive Officer of Binance added:

Changpeng Zhao, Binance

Changpeng Zhao
Source: LinkedIn

To attract the next billion crypto users, Binance is focused on building user trust through regulatory compliance, security, and strategic partnerships. The Australian crypto market is a unique opportunity due to the robustness of the financial services regime.

Binance’s announcement follows the recent news that rival crypto exchange FTX launched operations in Australia.

Previous articleGold lost its crown. Forecast as of 22.07.2022
Next articleWeekly Economic & Financial Commentary: The FOMC to Deliver Another Jumbo 75 bps Hike