FTX Launches New Business Division in Australia

Business Division in Australia

Cryptocurrency derivative exchange FTX has unveiled a new division in Australia as part of a global expansion strategy.

FTX Australian Pty Limited will offer an array of Exchange and over-the-counter products and services, including derivatives.

The company’s CEO and founder, Sam Bankman-Fried, notes that the Australian office will assure clients of dealing with a registered exchange in the industry.

The news follows an announcement by the Australian administration of the commitment to well-structured crypto regulations during Blockchain Week 2022. 

The government agency underscored the importance of establishing a robust cryptocurrency regulatory framework to sanitize the sector and protect the consumers.

Treasurer Josh Frydenberg says that Australia is working to have all the firms that deal with cryptocurrencies get the relevant licenses. The government has also promised to remain open to accommodate all public views.

The announcement comes amid a global expansion move by the Exchange, including the launch of FTX Europe and a partnership with the Kenyan-based AZA Finance.

Source: PR Newswire

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