Pepperstone takes aim at crypto exchanges with new spot trading platform

In a move that signals growing convergence between traditional finance and digital assets, Australian brokerage giant Pepperstone has announced the imminent launch of its own spot cryptocurrency exchange.

The announcement was made by Pepperstone CEO Tamas Szabo at the AusCryptoCon convention. He revealed that the new platform is the result of a year-long strategic investment and suggested that the current crypto exchange landscape is ripe for increased competition.

“I do think there’s a ‘little bit of fat on the bone’ in the exchange space,” Szabo stated, a remark widely interpreted as a critique of the high margins enjoyed by incumbent crypto-native platforms.

 

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Pepperstone’s expansion reflects a broader trend of established, regulated brokers moving to capture a share of the spot crypto market, a segment previously dominated by firms like Kraken and Crypto.com. This shift indicates a maturing market where institutional credibility and regulatory compliance are becoming key differentiators.

This trend is not isolated to Australia. In the United Kingdom, IG Group obtained its own cryptoasset license from the Financial Conduct Authority (FCA), allowing it greater control over its offerings. Similarly, CMC Markets has secured a digital asset license in Bermuda, establishing an offshore hub to serve international clients.