FTX Australia is coming

Sam Bankman-Fried, 30-year-old founder of global exchange FTX, presented the opening keynote address for Blockchain Week 2022. There he made the big announcement that the exchange will be launching in Australia within weeks.

The Bahamas-based company is preparing to allow Australian investors to begin trading within the coming weeks after obtaining their Australian Financial Services License. FTX’s entry into the Australian market will present heightened competition for local exchanges such as the Independent Reserve, BTC markets and Coinjar.

“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,” Bankman-Fried said via a statement today.

Having just secured operational licencing in the Middle East last week, FTX’s launch in Australia has been described by Bankman-Fried as the next logical step in the company’s global expansion.

FTX offers futures and swaps as well as a comprehensive suite of exchange, OTC based services and derivatives.