Pepperstone to Launch Spot Crypto Exchange in Australia

Australian Retail FX and CFDs broker Pepperstone is preparing to launch a new spot cryptocurrency exchange, with the debut expected “imminently” pending final regulatory approval, CEO Tamas Szabo revealed over the weekend.

Speaking during a panel discussion at AusCryptoCon, one of the Southern Hemisphere’s largest annual gatherings for the cryptocurrency and blockchain sector,  Szabo confirmed that the Melbourne-based firm has spent more than a year building the new exchange and staffing the operation in anticipation of approval.

“This hasn’t been public,” Szabo told the audience, marking his first appearance at the event. “We’ve put a year’s worth of investment into it. We’ve hired a lot of staff, ready to go. We’re just waiting for our permissions to come through from the regulator.”

Pepperstone to Launch Spot Crypto Exchange in Australia

Szabo added that Pepperstone sees strong momentum in the digital asset space: “There’s huge adoption of crypto… I think there’s an opportunity. I do think there’s a ‘little bit of fat on the bone’ in the exchange space, so I think there’s some competition that might come in.”

Pepperstone’s move underscores the accelerating convergence between traditional online brokers, neobanks, and crypto trading platforms. The trend has largely run in the opposite direction in the past year: major crypto exchanges such as Kraken—which recently filed for an IPO—and Crypto.com have been securing broker-friendly licenses and recruiting executives from the CFDs industry as they expand into non-crypto assets.

Additionally, by entering the spot-crypto arena directly, Pepperstone now joins the growing roster of financial companies repositioning themselves in an evolving regulatory and competitive landscape.

Furthermore, founded and headquartered in Melbourne, Pepperstone is led by CEO Tamas Szabo and operates regulated subsidiaries around the world. Senior management and a group of investors privately hold the company.

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