Coinbase announced on Tuesday that its Australian subsidiary has officially secured an Australian Financial Services License (AFSL). This milestone makes Coinbase the first exchange in the country permitted to offer retail users access to perpetual contracts for both cryptocurrencies and equities, with plans to introduce futures and options trading in the near future.
Expanding the TradFi Footprint
In an official announcement, Coinbase emphasized that this approval marks a significant step in the company’s push into traditional finance. The company stated: "We will compete directly with traditional financial institutions in areas like stock trading, payments, and other traditional financial products by leveraging the efficiency and execution speed of cryptocurrency."
Under the regulatory requirements of the AFSL, Coinbase Australia must adhere to the same standards as traditional financial institutions regarding codes of conduct, disclosure, corporate governance, and consumer protection. This move also serves as a foundation for compliance with the upcoming Treasury Laws Amendment (Digital Assets) Bill 2025, which will eventually mandate that all crypto exchanges operating in the country be licensed.
Established in 2022, Coinbase Australia is currently a member of the Digital Economy Council of Australia and has been actively involved in shaping local digital asset regulatory policy. A company spokesperson noted that they have significantly expanded their legal, compliance, market, and operations teams to support this business expansion.
Beyond its moves in the Australian market, Coinbase has also recently achieved a regulatory breakthrough in the United States. The company has received preliminary approval for a national trust charter from the Office of the Comptroller of the Currency (OCC), aimed at further integrating digital assets with the traditional financial system.
