FTX Expands its Global Presence With an Australian Branch

The cryptocurrency exchange – FTX – has established an Australian branch called FTX Australia Pty Ltd. The Aussie arm of the trading venue will offer OTC digital asset products and services, as well as derivatives., the new subsidiary of the exchange will be headquartered in Australia’s financial heart – Sydney. FTX Australia received regulatory approval from the local watchdogs and will offer numerous crypto opportunities to investors.

“We look to be a participant in policy discussions globally and will seek to continue this same level of engagement locally through FTX Australia, and we are encouraged by the important work being undertaken to establish a new digital asset licensing regime,” the CEO added. The reform proposal, said to be the biggest in the last 25 years, aims to allow Aussies to buy and sell bitcoin and alternative coins in a regulated environment. At the same time, local exchanges will have to clarify their activities and operate under greater supervision.Frydenberg opined the legislation will enhance innovation and consumer uptake of digital technologies and place Australia among the leading cryptocurrency leaders.

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