FTX, the crypto exchange and crypto broker, has launched its crypto exchange services in Australia, they will be establishing a new division which will be named “FTX Australia” and will be based in Sydney and will be offering exchanges and over-the-counter (OTC) services in Australia. FTX has fully registered and licensed all its Australian operations.
What Does This Mean?
This means a lot, for FTX this is a major move towards global expansion, this will provide all the local clients ability to trade in Australia with peace of mind, knowing that FTX now owns a division in Australia dedicated to Australian customers and knowing that they are fully registered and licensed.
“We’re excited to bring FTX’s innovative products and services to the Australian marketplace. The establishment of FTX Australia should provide all our local clients with the confidence of trading on a registered and licensed platform. As in other jurisdictions within which we operate, significant resources have been allocated to proactively engage with local regulators. We look to be a participant in policy discussions globally and will seek to continue this same level engagement locally through FTX Australia, and we are encouraged by the important work being undertaken to establish a new digital asset licensing regime.” — Sam Bankman-Fried
FTX is a leading digital asset exchange and broker, offering unique trading and brokerage services to retail and institutional customers. Leveraging years of financial market experience, FTX provides customers with a secure, easy-to-use platform to buy, sell, and store digital assets. The FTX team has built one of the most advanced trading engines in the market, which provides advanced order types, such as stop-loss orders, trailing stops, and layering. The result is a platform that both experienced traders and beginners can harness to achieve their financial goals.
What Are Cryptocurrencies?
Cryptocurrencies are digital currencies that are designed to be secure, anonymous and decentralized. Cryptocurrencies use a distributed ledger called a blockchain to record transactions and secure them from tampering. Cryptocurrencies are classified as either digital or cryptocurrencies based on the method by which they are generated and the materials from which they are made. Cryptocurrencies that are digital are generated and transacted using software whereas cryptocurrencies that are cryptocurrencies are generated and transacted using a combination of software, hardware and/or paper.