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Crypto Exchange OKX Enters Australian Market, Offering Spot And Derivatives Trading
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Crypto Exchange OKX Enters Australian Market, Offering Spot And Derivatives Trading

  • Australian users can now deposit and withdraw AUD via local banks and access various trading functions on the OKX crypto exchange.
  • Recent global expansions of OKX include launches in Türkiye, Argentina, Brazil and regulatory approvals in Singapore and Dubai.

Crypto exchange OKX on Tuesday announced the launch of its services in Australia, catering to both spot and derivatives traders, positioning it as one of the largest global exchanges offering direct Australian dollar deposits and withdrawals.

Australian users can now deposit and withdraw Australian dollars via most local banks, utilizing express buy and sell orders, peer-to-peer (P2P) and convert functions alongside spot trading.

Additionally, the platform supports fiat-to-crypto purchases through third-party services such as Simplex, MoonPay and Banxa.

OKX offers 170 crypto spot pairs, encompassing 85 tokens including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Tether (USDT), with plans for continuous expansion of token offerings.

In anticipation of its Australian market entry, OKX established a Sydney office in May 2023 and assembled a team across management, legal, compliance, and other sectors over the past year.

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“Australian crypto users deserve a platform that is secure, easy-to-use and responsive to their needs,” said Jamie Kennedy, OKX Australia General Manager. 

“This includes seamless access to banking rails as well as AUD pairs for the most popular cryptocurrencies.”

The company offers OTC spot trading services to all Australian users through OKX Australia Pty Ltd., registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC).

Derivatives trading, which includes futures, options, and perpetual swaps, is available exclusively to verified wholesale clients as per the Corporations Act 2001 (Cth) via OKX Australia Financial Pty Ltd.

This entity holds an Australian Financial Services (AFS) license regulated by the Australian Securities and Investments Commission (ASIC) and is also AUSTRAC registered.

OKX had recently launched services in Türkiye, Argentina, and Brazil and the crypto exchange had recently received regulatory approvals in Singapore and Dubai.

The global expansion of crypto exchanges will be a point of discussion at Benzinga’s Future of Digital Assets event on Nov. 19, where industry leaders will gather to explore the evolving landscape of digital finance.

Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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