FTX Launches Crypto Exchange Services in Australia

The exchange is hoping to get ahead of the regulatory curve by appeasing policymakers and working “proactively” with regulators

article-image

Sam Bankman-Fried; Blockworks Exclusive Art by Axel Rangel

share

key takeaways

  • FTX Australia will offer crypto derivatives as well as typical spot market offerings
  • The local firm will be headquartered in Sydney and follows other major exchanges having already established a foothold on the island nation

Major cryptocurrency exchange FTX has formally set up shop in Australia following its acquisition of a major financial license in the country.

During a virtual address to a gathered crowd attending the country’s annual Blockchain Week, FTX CEO Sam Bankman-Fried said his company has officially launched FTX Australia.

The establishment of a domestic foothold follows FTX’s acquisition of an unnamed company that previously held an Australian Financial Services License. The move is in lockstep with other major exchanges, including Binance and Kraken, that having already established a domestic presence over the last two years.

Australians have been able to access the exchange’s international platform for some time, but FTX is hoping to get ahead of the regulatory curve by appeasing policymakers and working “proactively” with regulators.

“We’d love to work with regulators and lawmakers on understanding the crypto ecosystem and build out regulatory frameworks for analyzing them,” Bankman-Fried said.

He added FTX was “doing everything we can” to bring about a “robust healthy” ecosystem in the country in an environment that has consumer protection top of mind.

The domestic exchange will carry most of the bells and whistles of its parent by offering its products in the crypto derivative and spot markets, according to a statement on Sunday.

FTX Australia, which will be headquartered in Sydney, will act as the issuer of options contracts, futures contracts, contracts for difference and leveraged tokens.

Australia as a “regional hub”

Asked why he thought Australia was an important jurisdiction for global exchanges, the 30-year-old CEO said the country afforded a “big opportunity” to lead the rest of the region by driving innovation.

“I think the world is very much looking for a regional hub for crypto in APAC right now,” Bankman-Fried said. “Australia is a really significant demographic for the cryptocurrency industry, it’s something we’ve seen a ton of demand coming from.”

He said FTX’s move into the country was part of a “general push” over the last 12 months for the exchange to obtain licenses in “as much of the world as possible.”

The establishment of FTX Australia highlights the company’s “long-term commitment” to the local market and represents the “natural next step” in global expansion, the exchange said in its statement.

Last week, the exchange was granted a license to operate within the United Arab Emirates following the establishment of the emirate’s Virtual Asset Regulation Law, which also appointed a watchdog to monitor the budding sector.

Earlier in the month, the exchange consolidated its European operations under one umbrella in a bid to cater for clients across the bloc as well as in the Middle East.


Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

Explore the growing intersection between crypto, macroeconomics, policy and finance with Ben Strack, Casey Wagner and Felix Jauvin. Subscribe to the Forward Guidance newsletter.

Get alpha directly in your inbox with the 0xResearch newsletter — market highlights, charts, degen trade ideas, governance updates, and more.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.

Tags

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 18 - 20, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

recent research

Unlocked Advisory-min.png

Research

This report distills Blockworks Advisory’s research on incentive programs and their analysis, offering a foundation for designing future initiatives and advancing industry-wide standards. By highlighting key lessons and methodologies, we aim to empower protocols to make informed, data-driven decisions.

article-image

The HAWK token crashed 87% around 30 minutes after launching

article-image

The company did about 2.5 times the amount of crypto-backed collateral financing in November compared to the rest of 2024, exec says

article-image

Programmable yield, seamless swaps and decentralized control are the hallmarks of a new stablecoin model

article-image

Crypto is “really exciting,” former SEC Commissioner Paul Atkins said in a podcast interview last year

article-image

Bitcoin is now the “seventh most valuable asset in the world by market cap, just behind the likes of Google and Amazon,” GSR’s Brian Rudick said

article-image

Many analysts expected bitcoin to top $100K before year-end, though it’s been on a post-election tear