Cryptocurrency exchange KuCoin has entered the Australian market with a new office in Sydney as it continues to expand its global footprint.
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- KuCoin has opened a new regional headquarters in Sydney.
- James Pinch, a former OKX and CMC Markets executive, has been appointed managing director to lead the Australian business.
- KuCoin was launched in Thailand earlier this year.
According to an official press release on November 17, the Sydney office will serve as the exchange’s regional headquarters and will seek to establish a presence in one of the world’s most prominent and rapidly evolving crypto markets.
KuCoin will begin hiring over the next 12 months to build a local team with roles across compliance, cybersecurity, operations and product development.
To lead operations, the exchange has appointed James Pinch as managing director. Mr Pinch is a veteran of the Australian financial services and trading industry having held leadership roles at companies including OKX, CMC Markets, Vantage and Invast Global.
“Australian investors are serious about digital assets, with the market expected to grow by nearly 20% to US$1.2 billion by 2026. They want transparency, stability and innovation, and KuCoin delivers that through robust engagement and the highest level of security,” Pinch said in an accompanying statement.
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As part of its entry into the local market, KuCoin will sponsor this year’s Australian Crypto Convention to engage with the community and support the growth of the industry.
KuCoin will join direct competitor Gemini, which was founded last month and began offering Australian dollar deposits and transactions through its local subsidiary.
Gemini said at the time that it had registered with the Australian Transaction Reporting and Analysis Center to comply with anti-money laundering obligations. Before KuCoin can begin offering its full range of crypto services in Australia, it must first secure an Australian Financial Services License, which will allow it to support the Australian dollar, an essential step if it plans to compete in the local fiat-to-crypto market.
KuCoin’s entry into Australia comes as the country considers a new licensing framework for digital asset platforms, which would see these entities regulated under the Corporations Act.
As previously reported by crypto.news, once the framework goes live, non-compliant companies could face stiff fines, including fines of up to 10% of annual turnover or the equivalent of A$16.5 million ($10.9 million), whichever is greater.
KuCoin’s entry into Australia follows its expansion into Thailand earlier this year, where it secured a full license to offer its services. KuCoin was then selected as the lead exchange to support the government’s tokenized bond initiative, overseeing applications, redemptions, and secondary trading for the new G‑Token program.
In the past few months, the exchange has also secured a partnership with Refillarena to allow users to spend crypto for mobile recharges, gift cards, and data plans via KuCoin Pay, and launched a cloud mining platform called KuMining that allows anyone to mine Bitcoin, Dogecoin, and Litecoin without using hardware or managing energy resources.
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