OKX has officially launched its cryptocurrency exchange platform in Australia, the company announced on Tuesday. Australian users can now access spot trading services, while derivatives trading will be available exclusively to verified wholesale clients.
Extensive Trading Options for Australian Users
OKX offers a wide range of trading options to Australian users. With the ability to deposit and withdraw AUD through most Australian banks, users can access 85 crypto tokens and 170 crypto spot pairs. This extensive offering positions OKX as a major player in the Australian crypto market.
Commitment to Innovation and Compliance
Hong Fang, President of OKX, highlighted the company’s commitment to responsible innovation and regulatory compliance. “We feel strongly about bringing responsible innovations to markets, and the product innovations in trading and self-custody are valuable things that we can bring to Australia,” Fang stated. She praised the sophisticated and transparent regulatory framework provided by Australian regulators, making it an attractive market for continued investment.
Building a Local Presence
The launch of the exchange follows the establishment of OKX’s Sydney office last year. Jamie Kennedy, General Manager of OKX Australia, expressed pride in the local team’s efforts. “I’m proud to say we have assembled a great local team that will ensure OKX contributes to Australia’s crypto industry for years to come,” Kennedy said.
Global Expansion and Innovations
OKX’s expansion into Australia is part of a broader global strategy. The company has obtained a virtual asset service provider license in Dubai and an in-principle license in Singapore. Additionally, OKX recently launched its Ethereum-based zero-knowledge Layer 2 network, X Layer, providing its 50 million global users access to a variety of decentralized applications.
In April, OKX ranked as the third-largest crypto exchange worldwide by monthly trading volume, generating over $110.7 billion in trades. This significant trading volume underscores OKX’s growing influence and robust platform capabilities.
