Kraken expands in UK, Australia markets; adds 26 crypto Trading Pairs

Kraken expands in UK, Australia markets; adds 26 crypto Trading Pairs

US based cryptocurrency exchange, Kraken has reportedly more than doubled its existing trading pairs by adding 26 more which are available to customers using the Australian dollar (AUD) and pounds sterling (GBP). Kraken in a press release has stated that this move expands its presence across two substantial markets with upside potential.

Speaking of the initiative, Jonathon Miller, Managing Director of Kraken for Australia stated that the digital currency industry is at a critical turning point as institutional investors have started to allocate into the asset class. Through the exchange’s remarkable expansion in trading pairs, clients around the world will gain an exposure to cutting edge cryptocurrencies, Miller added.

It has been reported that fourteen of Kraken’s listed cryptocurrencies are now available for trading against GBP and AUD on the exchange. However, all cryptocurrencies available on Kraken cannot be directly exchanged for each other. The new additions pair stellar (XLM, -5.3%), chainlink (LINK, -1.47%), cardano (ADA, -3.27%), and polkadot, in addition to others against GBP and AUD.

Kraken has also stated that this initiative represents the largest pair expansion in the exchange’s history and allows traders using AUD and GBP to gain greater exposure in some of the fastest-growing segments of the industry.

Meanwhile, Curtis Ting, Kraken’s managing director, Europe has stated that the cryptocurrency space is more than just about Bitcoin and the U.S. dollar.  

According to the exchange, the U.K. is one of its most active customer bases in terms of staking cryptocurrencies. On the other hand, Australia is one of the exchange’s fastest-growing markets from the beginning of its operations in the country last June.

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