FTX announced the establishment of FTX Australia, based in Sydney, aiming to expand its services to the Southern Hemisphere.

Following the establishment of FTX Europe earlier this month, FTX announced today (21) the launch of FTX Australia. FTX Australia will offer spot trading, cryptocurrency derivatives trading services, as well as over-the-counter (OTC) products. The establishment of FTX Australia signifies FTX's global expansion into the Southern Hemisphere.

Following the establishment of FTX Europe earlier this month, FTX announced today (21) the formation of FTX Australia. FTX Australia will offer trading services for spot markets, crypto derivatives, and over-the-counter (OTC) products. The establishment of FTX Australia signifies FTX's global expansion into the Southern Hemisphere.

According to the official press release, FTX Australia will be headquartered in Sydney, Australia's financial center. FTX Australia has already obtained a financial services license in Australia and will provide crypto derivative services, including futures contracts, options contracts, leveraged tokens, and contracts for difference (CFDs) on crypto assets.

Sam Bankman-Fried, the founder and CEO of FTX, expressed excitement about bringing their services and products to Australia and stated that they will allocate significant resources to collaborate with local regulatory authorities. "We are thrilled to bring FTX's innovative products and services to the Australian market. The establishment of FTX Australia will enhance confidence in our platform among Australian users."

Australia is one of the financial centers in the Asia-Pacific region and places great emphasis on the development of financial technology. According to data from Findexable, the size of Australia's fintech industry reached $4 billion in 2021, and Sydney, where FTX Australia is headquartered, is the 11th largest financial center globally.

Developing fintech in Australia has several advantages: a stable regulatory environment, proximity to Asian markets, and notably, preliminary plans by the Australian government for the crypto industry.

In October 2021, the Australian Senate Select Committee on Australia as a Technology and Financial Centre released a 168-page report with 12 recommendations, indicating Australia's efforts to position itself at the forefront of global crypto investment.

FTX Australia officials stated that the establishment of FTX Australia underscores FTX's long-term commitment to the local market and represents the next step in FTX's global expansion.

SBF summarized, "Regulators worldwide are currently formulating a comprehensive framework for crypto regulation, and FTX hopes to be involved, including in Australia, one of the Asia-Pacific financial centers. Therefore, we have allocated significant resources and hope to collaborate with local regulatory authorities in Australia. We take the mission of jointly building a new digital asset regulatory framework very seriously, and the current progress has boosted morale within our team."