Cryptocurrency exchange Kraken has more than doubled the number of trading pairs available to customers using pounds sterling (GBP) and the Australian dollar (AUD).
In a press release Thursday, the exchange said the move expands its presence in two markets that have “substantial upside potential.”
“The digital currency industry is at a critical tipping point as institutional investors start to allocate into the asset class,” said Kraken’s managing director for Australia, Jonathon Miller. “Through a marked expansion in trading pairs … clients globally will be able to gain exposure to cryptocurrencies at the bleeding edge.”
Fourteen of the exchange’s listed cryptocurrencies are now able to be traded against GBP and AUD on the near 10-year-old exchange. Not all cryptocurrencies available on Kraken can be directly exchanged for each other.
The news marks the largest pair expansion in Kraken’s history and allows traders using GBP and AUD to gain greater exposure in some of the industry’s “fastest-growing segments,” the exchange said.
“The cryptocurrency space isn’t just about Bitcoin, and it isn’t just about the US dollar,” said Curtis Ting, Kraken’s managing director, Europe.
According to the exchange, the U.K. is one of Kraken’s most active customer bases in relation to staking cryptocurrencies, while Australia represents one of the exchange’s fastest-growing markets since it began operations in the country last June.