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Kraken launches support for Australian dollar trading pairs

June 17, 2020

The big cryptocurrency exchange Kraken has announced support for currency pairs and Australian dollar account (AUD) funding..

Australian dollars are exchanged on the platform for Bitcoin Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Ripple (XRP), Bitcoin Cash (BCH) and Tether (USDT).

AUD is the seventh Fiat currency supported by KrakenJoin USD, CAD, EUR, JPY, GBP and CHF.

Kraken launches support for Australian dollar trading pairsKraken launches support for Australian dollar trading pairs

Octopus customers outside of the United States You can also trade AUD-based currency pairs against USD, EUR and JPY.

Kraken launches financial support for AUD

On June 17th, Kraken will start supporting AUD. now Australian users You can deposit fiat on the stock exchange through banks that support Osko / PayID payments.

The move follows the company’s takeover of Australia’s oldest Bit Trade cryptocurrency exchange in January.. The acquisition resulted in Kraken joining the entire Bit Trade team. The latter’s managing director, Jonathon Miller, assumed the role of CEO of Kraken’s Australian business.

Bit Trade was launched in 2013 and expanded to include a retail exchange and an OTC trading counter in Australia. The exchange was a founding member of the Blockchain Australia Association.

The exchanges compete for AUD market share

Kraken joins a growing number of international exchanges that compete for the Australian cryptocurrency market.

In 2016 Coinbase expanded to Australia;; The exchange supported purchases with debit cards in AUD.

In March 2019, Binance launched Binance Lite, an access ramp for Australian users. In January of this year, Binance implemented limited support for AUD deposits on its international exchange.

In February 2019, Huobi Australia ceased operations due to “poor market conditions” during the crypto winter, eight months after the office opened.