Australia passed legislation on April 1, bringing digital asset and tokenized custody platforms under its financial services licensing regime.
Global crypto exchange Coinbase said it is looking to expand its offerings in Australia to futures, options, stock trading, payments and other traditional finance products as part of an “everything exchange” after securing a financial services license in the country.
John O’Loghlen, regional managing director for APAC at Coinbase, said the Australian financial services license (AFSL) will see the exchange initially offer crypto and equity perpetuals but will open the door for futures, options and other traditional financial products.
“We’re going to compete with traditional financial services on stock trading, payments and other TradFi products with the speed and execution of crypto,” O’Loghlen said.
