The US-based cryptocurrency exchange Kraken has announced new trading pairs available to customers from the UK and Australia
Investors in the UK and Australia will be delighted after Kraken expanded its listings. The exchange has launched a total of 14 new assets that can be traded against the British pound sterling (GBP) and the Australian dollar (AUD). The addition also includes 26 new trading pairs. Half (13) of the new trading pairs are pegged to the Australian dollar and the other half to the pound sterling.
According to a blog post published yesterday by the stock exchange, Kraken intends to further expand its position in both markets.
“As we continue to expand into markets with significant growth potential, Kraken more than doubles the number of trading pairs available to customers in both British pound sterling (GBP) and Australian dollar (AUD).“Wrote the exchange. “With 26 new trading pairs, Krakens GBP and AUD clients now have more seamless access to 14 assets and related services, such as our hugely popular stake rewards“.
This is the largest expansion of trading pairs by Kraken in the nine years of its existence. In the stock exchange, it was pointed out in detail that the regions of Great Britain and Australia have “considerable upside potential”. The exchange stated that the UK is one of the most active crypto regions while Australia is a booming market. Kraken has only been in Australia for eight months after moving in last June.
Jonathon Miller, Krakens General Manager for Australia said: “The digital currency industry is at a critical tipping point as institutional investors begin to allocate themselves to the asset class“.
Most of the newly listed pairs are tokens for DeFi apps. Some of the new offer pairs are Chainlink (LINK), Stellar (XLM), Filecoin (FIL), Graph Protocol (GRT), Cosmos (ATOM), Polkadot (DOT), Cardano (ADA), Synthetix (SNX) and Kusama (KSM) ). Australian traders also have access to Aave (AAVE).
“With trading pairs for Aave (AAVE) and Synthetix (SNX) […] Kraken is now offering AUD and GBP customers a far more direct route into decentralized financing (DeFi), an area that has grown more than twenty-fold in total over the past year. ”