WhiteBIT, the leading European crypto exchange, has announced its expansion into the Australian market, marking a continuation of its global growth strategy.
WhiteBIT's Expansion into Australia
WhiteBIT has taken a significant step in its global development by entering the Australian market. The founder and president of WhiteBIT Group, Volodymyr Nosov, highlighted that this move provides a unique opportunity to engage with a crypto-savvy audience in a region that plays a key role in the Asia-Pacific.
Strategy and Launch Preparation
WhiteBIT launched a dedicated platform for the Australian market at the end of 2024, after months of preparing for regional requirements. The exchange has secured a registration with AUSTRAC as a Digital Currency Exchange Provider and an Independent Remitter Dealer license, preparing for scaling activities. WhiteBIT is building a local team in Australia and aims to expand its full set of products as offered in other markets. The company focuses on providing high-quality products within the regulatory framework of each country.
Impact on Crypto Industry
Australia has shown a strong interest in crypto investments, prompting a need for more advanced crypto infrastructure in the region. Recent research indicates that 9.6% of Australian investors own digital assets, reflecting an increasing popularity of cryptocurrencies among younger Australians. WhiteBIT's goal is to make crypto accessible to every user, enabling informed decisions on personal finance. The exchange handles over $878M in daily trading traffic and ranks in the top 15 of exchanges by trust score.
WhiteBIT's entry into the Australian market demonstrates its active efforts to expand its presence in regions with significant interest in cryptocurrencies. This move could potentially aid the development of the crypto industry in Australia and beyond, supporting the integration of blockchain technology into the financial system.
