Kraken, one of the largest cryptocurrency exchanges by euro trading volume, has more than doubled the number of trading pairs available to clients using both the British pound sterling (GBP) and the Australian dollar (AUD).
Fourteen cryptocurrencies can now be traded directly using thirteen new trading pairs each for GBP and AUD, on Kraken. The single-largest currency pair expansion in Kraken’s near-ten year history, the new pairs smooth the way for GBP and AUD customers to gain better exposure to some of the fastest growing segments of the cryptocurrency space.
“The cryptocurrency space isn’t just about Bitcoin, and it isn’t just about the US dollar,” says Curtis Ting, Kraken’s Managing Director of Europe. “By expanding AUD and GBP markets into a far greater number of digital assets, Kraken is doubling down on its commitment to ensure all clients globally can more seamlessly interact with any number of the cryptocurrencies available on our exchange.”
The UK is among Kraken’s most active client bases for staking, a means to verify and secure blockchain transactions in return for regular rewards. Furthermore, Australia is now one of Kraken’s fastest growing markets since the introduction of AUD funding in 2020. The new trading pairs – twenty-six all together – will allow Kraken’s client base to continue to dynamically interact with the space as digital assets go from strength to strength.
For example, clients can use AUD and GBP to purchase assets such as polkadot (DOT) and cosmos (ATOM) to earn regular rewards through Kraken’s staking service. Clients now have even better access to a service that has well over USD1 billion worth of digital assets staked across the board and paid out approximately USD27 million in rewards last year.
Furthermore, with trading pairs to aave (AAVE) and synthetix (SNX), assets at the forefront of financial innovation, Kraken now provides AUD and GBP clients with a far more direct route into decentralised finance (DeFi), a space whose total value increased by more than twenty-fold last year.
Lastly, adding AUD and GBP support for the likes of cardano (ADA), chainlink (LINK), and USDC means Kraken now provides clients with a more comprehensive exposure to other leading projects with billion-dollar market caps.
“The digital currency industry is at a critical tipping point as institutional investors start to allocate into the asset class,” says Jonathon Miller, Kraken’s Managing Director of Australia. “Through a marked expansion in trading pairs, one of our biggest to date, Kraken clients globally will be able to gain exposure to cryptocurrencies at the bleeding edge as the space continues to grow at a lightning pace to meet all manner of new use cases.”
