Kraken, which previously violated Australian financial market rules by offering fiat-based margin products, has revamped its services in the country by offering crypto-based derivatives products for local wholesale clients.

Limited to Wholesale Clients

Announced yesterday (Sunday), the American exchange highlighted that the new products are being offered under its local entity, an Australian financial services-licensed broker. The derivative products are available only to eligible Australian wholesale clients.

The exchange noted that qualified clients will have access to over 200 tradable assets. The derivatives platform will also offer multi-collateral support with fiat, stablecoins, and cryptocurrencies.