Coinbase Becomes First Major Exchange to Win Australian Retail Derivatives Licence

The US platform secured an Australian Financial Services Licence (AFSL) from the Australian Securities and Investments Commission (ASIC), authorising it to offer retail derivatives, make markets in financial products and provide custodial services.

Coinbase to expand its product line 

The US platform secured an Australian Financial Services Licence (AFSL) from the Australian Securities and Investments Commission (ASIC), authorizing it to offer retail derivatives, make markets in financial products and provide custodial services.

In a 7 Apr post on X, Coinbase said it plans to initially launch crypto and equity perpetual contracts, "with options to follow," adding: "We can now build the Everything Exchange down under."

Australia brings crypto into licensing regime

The licence marks a significant step for Coinbase in Australia, where it has maintained a presence since 2022 and previously operated only as a registered Digital Currency Exchange under AUSTRAC. The AFSL brings it under the same regulatory standards as traditional financial services providers.

The approval comes just days after Parliament passed the Corporations Amendment (Digital Assets Framework) Bill on 1 Apr, which integrates digital asset intermediaries into the existing financial services regime for the first time.

While the move is being hailed by Coinbase as a major expansion milestone, Australia’s regulators have historically taken a cautious approach to retail crypto products. The success of Coinbase’s "Everything Exchange" ambitions will ultimately depend on how the new framework performs in practice and whether other major exchanges follow suit.

The country's slow approach to crypto could ultimately be an advantage for digital asset firms. Before the new laws were passed, Kate Cooper, CEO of OKX Australia, told Sandmark that Australian regulators have created a tailor-made framework after studying regulations in other countries.