FTX, a US-regulated cryptocurrency exchange, built from the ground up with a mission to grow the digital currency ecosystem, offering the US and international traders a platform that inspires their loyalty in a bid to become the market-leading US regulated cryptocurrency exchange by volume within the next two years, has just recorded a huge feat as it makes a new home for FTX to breed and grow in Australia where it’s establishing its new office.
The Australian Index
Over time, Australia has proven to be a well-regarded financial centre in the Asia-Pacific and an important and growing market for FTX. As events unfold, Australians have had a long reputation for adopting new technologies, particularly when it comes to financial services. The establishment of FTX Australia highlights FTX’s long-term commitment to the local market and represents the natural next step in FTX’s global expansion.
As the Brand (FTX) keeps expanding, it aims to offer a range of Industry-leading products and services which includes: Derivatives, OTC based products and services, and a comprehensive suite of exchange. Going further, it’s worthy to note that the founding of FTX Australia expresses FTX’s long-term commitment to the region and is the natural next step in the exchange’s expansion worldwide.
5 Hearty Cheers to the Boss
Here’s the news at 12 from Sam Bankman-Fried, CEO & Founder of FTX:
“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”.
Raise Your Glasses: The Toss
With the current global trend on the adoption of Cryptocurrency worldwide, as well as its rejection by some economies, Australia has made a great stride in this regard. Speakers like FTX founder Sam Bankman-Fried, NSW Senator Andrew Bragg, BTC Markets chief executive Caroline Bowler and Blockchain Australia CEO Steve Vallas have made the case that crypto is a mature, responsible industry ready and willing to provide clarity and consumer protection for everyday users.
With the many more strides the country may still make in this regard, Australia has the chance to grab a regional leadership role in the crypto industry if it gets regulation right. This however is reflective of what the speakers at the Australian Blockchain Week 2022 said.
Turn Over the Bottles: Party Over
With an intention to maintain a steady expansion, the Big Boss addressed the event remotely from the Bahamas, where he said he was located because it was one of the only jurisdictions in the world that has released a comprehensive framework for crypto regulations. According to him, he believes the world is very much looking for a regional hub for crypto in APAC at the time being which will have a sure ripple effect, causing a big influx of business into such a region.
