The approval puts Coinbase under Australia’s financial rules as the country formalizes oversight of crypto platforms.
Coinbase is planning to expand its offerings in Australia to include derivatives, equities and payments after securing an Australian financial services license (AFSL).
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.
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