WhiteBIT, Europe’s largest cryptocurrency exchange by traffic, is now available in Australia, as per the reports shared with Finbold on Wednesday, March 26.
The geographical expansion is an important step in WhiteBIT’s ongoing efforts to expand its presence in the international crypto market.
As of now, WhiteBIT has over 8 million registered users and offices in seven countries.
WhiteBIT’s presence in Australia
The WhiteBIT.au domain launched in December 2024, after months of paperwork and regulatory preparation.
The company is now registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC) as a Digital Currency Exchange Provider and Independent Remitter Dealer, meeting all financial regulations in the country.
As for the features available to Australian users, WhiteBIT currently offers spot trading, with the rest of its product suite — i.e., those meeting the regulatory demands in the country — announced for the near future.
Commenting on the expansion, Volodymyr Nosov, founder and president of WhiteBIT Group, stated:
“Expanding into the Australian market presents a unique opportunity to engage with a highly crypto-savvy audience and a region that plays one of the crucial roles in the Asia-Pacific Region. Our goal is to contribute to the economic well-being and financial independence of both Australian and Asian communities while driving the adoption of blockchain technology on a global scale. This expansion marks a significant step in our mission to make crypto accessible to everyone.”
Crypto adoption in Australia
A part of the broader WhiteBIT Group serving more than 35 million users, the WhiteBIT exchange is well-positioned to capitalize on Australia’s growing crypto market.
According to data published by Triple-A, around 9.6% of Australian citizens already own cryptocurrencies.
This rate of adoption, coupled with the country’s stable economy in the post-COVID era, has made Australia an attractive market for the expansion of new decentralized finance (DeFi) services and crypto-trading tools.
What makes Australia attractive is also the fact that cryptocurrencies and derivatives are emerging as viable investment options for younger Australians, especially, as these statistics suggest a potentially even higher adoption rate in the years to come.
Australia also has a well-structured and clearly defined legal framework for crypto firms.
This encourages domestic and international projects alike, meaning that WhiteBIT’s expansion aligns with the increasing mainstream adoption of blockchain technology in the country.
To capitalize on the momentum even further, WhiteBIT will focus on creating a secure and user-friendly trading platform that caters to both novice and experienced traders.
