- Global crypto exchange, OKX, has announced the launch of its crypto services in Australia, offering 170 spot pairs and 85 tokens including Bitcoin, Ethereum, Solana and Tether (USDT).
- The launch follows the opening of a Sydney office in May 2023 and the hiring of a team of experts in management, legal, compliance, and other specialties.
- OKX is now the largest global crypto exchange offering direct AUD deposits and withdrawals to Australian users, who can connect via most Australian banks and access express buy/sell, P2P, and convert functions in addition to spot trading.
OKX, a leading global crypto exchange, has launched its services in Australia, offering a wide range of tokens and spot pairs to both retail and institutional users.
OKX’s Expansion into Australia
OKX’s expansion into Australia comes after the opening of a Sydney office in May 2023 and the hiring of a team of experts in various fields. The launch of crypto services in Australia was initially planned for 2023, but was delayed and finally took place this month. OKX is now the largest global crypto exchange offering direct AUD deposits and withdrawals to Australian users, who can connect via most Australian banks and access express buy/sell, P2P, and convert functions in addition to spot trading.
Offering a Secure and User-friendly Platform
Jamie Kennedy, General Manager at OKX Australia, emphasized the company’s commitment to providing a secure, easy-to-use platform that responds to the needs of Australian crypto users. This includes seamless access to banking rails as well as AUD pairs for the most popular cryptocurrencies. OKX also publishes monthly Proof of Reserves to validate its full backing of user funds held on the platform, allowing users to independently confirm that their assets are backed by OKX reserves.
OKX’s Crypto Offering and Regulatory Compliance
OKX’s crypto offering in Australia covers 170 spot pairs and a total of 85 tokens including Bitcoin, Ethereum, Solana and Tether (USDT). OTC spot trading services are available to all users in Australia via OKX Australia Pty Ltd., a locally incorporated entity registered with AUSTRAC. Meanwhile, derivatives trading services will only be offered to verified wholesale clients who meet the relevant Corporations Act 2001 (Cth) definition, via OKX Australia Financial Pty Ltd., a local entity that holds an Australia Financial Services (AFS) license regulated by ASIC, and is also AUSTRAC registered.
Conclusion
The launch of OKX’s crypto services in Australia marks a significant milestone in the company’s global expansion. With a wide range of tokens and spot pairs on offer, as well as a commitment to security and user-friendly services, OKX is well-positioned to cater to the needs of both retail and institutional crypto users in Australia.
