tl;dr
U.S.-based crypto exchange Kraken has launched a new suite of crypto derivatives products for Australian wholesale clients, aligning with regulatory standards after a recent legal challenge. The licensed broker offering allows institutional clients to trade futures derivatives without holding the un...
Kraken, a U.S.-based crypto exchange, has introduced a new range of crypto derivatives products specifically tailored for Australian wholesale clients. This initiative is in direct alignment with regulatory standards, which was prompted by a recent legal challenge faced by the company in Australia.
The licensed broker offering by Kraken provides institutional clients with the ability to participate in futures derivatives trading without the need to directly hold the underlying assets. Notably, this service supports over 200 tradable assets and includes multi-collateral backing for fiat, stablecoins, and cryptocurrencies.
Following a court case with Australia’s financial regulator, Kraken's latest move emphasizes the crucial requirement for compliance within the crypto industry. The exchange aims to stand out from its competitors and address the evolving regulatory landscape while meeting the demands of institutional investors.
Eligible clients can access this offering via Kraken’s support page or through the Kraken Pro app. The derivatives broker offering serves as a response to the escalating demand from compliant, high-security trading options sought by Australian wholesale clients with substantial financial assets.
To qualify for this service, an individual must have net assets exceeding $2.5 million (US$1.64 million) and a gross annual income exceeding $250,000 (US$164,000) for the last two financial years.
This marks a significant strategic move for Kraken as it seeks to reestablish its foothold in the Australian market while demonstrating its commitment to regulatory compliance and institutional clients' needs.
Sources: Decrypt, Kraken
More about United States Steel Corporation
United States Steel Corporation produces and sells tubular and flat rolled steel products primarily in North America and Europe. The company is headquartered in Pittsburgh, Pennsylvania.
Industry: MANUFACTURING
Sector: STEEL WORKS, BLAST FURNACES & ROLLING MILLS (COKE OVENS)
Market Cap: 8,698,357,000
Current Price: $24.45
Change: $0.2
Change (%): 1.58%
52 Week Range: $17.48 - $29.67
Earnings per Share (EPS): $0.0241
Shares Outstanding: 162,750,000,000
Price to Earnings (P/E) Ratio: 41.59
Forward Price to Earnings (P/E) Ratio: -0.598
Dividend Yield: -0.13