Coinbase Wins Australian Derivatives License As COIN Targets Trend Reversal
Coinbase Global Inc. (NASDAQ:COIN) received an Australian Financial Services License to offer retail derivatives trading as COIN tests $170 support zone for the second time since February’s $143 low.
The Australian License
Coinbase announced Tuesday it received the AFSL through its local entity, authorizing the company to offer retail derivatives trading in Australia.
The license is the first of its kind granted to a crypto exchange in the region.
Coinbase Australia will offer crypto and equity perpetuals to Australian investors, followed by futures and options.
“We’re going to compete with traditional financial services on stock trading, payments, and other TradFi products with the speed and execution of crypto,” the company said.
The AFSL subjects Coinbase Australia to the same conduct, disclosure, governance, and consumer protection requirements as traditional institutions.
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