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Crypto exchange Kraken says its wholesale clients can now purchase crypto derivatives via its Australian financial services licensed broker.
U.S.-based cryptocurrency exchange <a href="https://crypto.news/tag/kraken/" target="_blank" rel="noopener noreferrer nofollow">Kraken</a> is expanding crypto-based offerings among <a href="https://crypto.news/tag/australia/" target="_blank" rel="noopener noreferrer nofollow">Australian</a> customers, extending its offerings to eligible wholesale clients seeking exposure to crypto price movements without holding underlying assets.
In a Nov. 3 <a href="https://blog.kraken.com/product/aus-licensed-broker-offering" target="_blank" rel="noopener noreferrer nofollow">blog announcement</a>, the exchange said that the service, available immediately, allows Australian institutions to access a range of crypto-based derivatives under a registered financial services license. Kraken says the new broker service is tailored for flexibility, noting that high-net-worth clients are “looking for the ability to execute advanced trading strategies using a licensed broker.”
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 “Our new premium product meets our clients’ trading needs and helps them to advance in their crypto journey.”
 Jonathon Miller, Kraken GM for Australia and Rest of World
</blockquote>
You might also like: <a rel="noopener noreferrer nofollow" href="https://crypto.news/kraken-expanding-institutional-crypto-services-to-the-uk-and-australia/"> Kraken expanding institutional crypto services to the UK and Australia </a>
The launch follows recent organizational adjustments at Kraken. As crypto.news <a href="https://crypto.news/kraken-joins-crypto-exodus-with-15-layoffs/" target="_blank" rel="noopener noreferrer nofollow">reported</a> earlier, Kraken laid off approximately 15% of its workforce, joining other crypto firms, including Consensys and dYdX, in downsizing amid ongoing market and regulatory pressures.
The job cuts, which primarily affected senior management, reflect what Kraken described as a shift towards “organizational discipline” to streamline decision-making and product innovation.
In early September, Kraken <a href="https://crypto.news/kraken-criticizes-australias-uncertain-crypto-rules-after-court-ruling/" target="_blank" rel="noopener noreferrer nofollow">called</a> for clearer crypto regulations in Australia after a Federal Court ruled that part of its margin extension product violated local laws. The exchange expressed disappointment with the judgment, saying Australian crypto investors and businesses “continue to operate in a confusing and uncertain regulatory environment.”
Read more: <a rel="noopener noreferrer nofollow" href="https://crypto.news/crypto-vc-funding-kraken-bags-42-5m-from-optimism-glow-labs-raises-30m/"> Crypto VC funding: Kraken bags $42.5m from Optimism, Glow Labs raises $30m </a>

Kraken unveils broker offering in Australia for institutions

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