OKX Launches Crypto Exchange in Australia With Spot and Derivatives Trading
- AUD bank deposits and withdrawals and 170 crypto spot trading pairs are available to local users
SYDNEY, May 14, 2024 /PRNewswire/ -- OKX, a leading global crypto exchange and Web3 technology company, has officially launched its crypto exchange services in Australia. OKX now offers spot (buy & sell) trading for all users and derivatives trading for verified wholesale clients* in Australia. It is now the largest global crypto exchange offering direct AUD deposits and withdrawals to Australian users.
OKX Australia users can now also deposit and withdraw AUD via most Australian banks and access express buy/sell, P2P and convert functions in addition to spot trading. Users can also buy crypto with fiat via third-party platforms Simplex, MoonPay and Banxa. In total, spot trading users have access to 170 crypto spot pairs and a total of 85 tokens including Bitcoin, Ethereum, Solana and Tether (USDT). More tokens will be listed on an ongoing basis; Australian users can check here for the latest list of tokens offered.
In preparation for its entry into the Australian market, OKX opened an office in Sydney in May 2023 and built a team of experts in management, legal, compliance, and other specialties over the past year. It will further invest in the Australian crypto ecosystem going forward.
OTC spot trading services are available to all users in Australia via OKX Australia Pty Ltd., which is a locally incorporated entity registered with AUSTRAC. Meanwhile, derivatives (futures, options and perpetual swaps) 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 which holds an Australia Financial Services (AFS) licence regulated by ASIC, and is also AUSTRAC registered.
OKX Australia General Manager Jamie Kennedy said: "Australian crypto users deserve a platform that is secure, easy-to-use and responsive to their needs, which include seamless access to banking rails as well as AUD pairs for the most popular cryptocurrencies. It's my job to make sure that while we offer the best product, we also invest in compliance and security to give peace of mind to our users. 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."
In line with its dedication to transparency, OKX was among the first in the crypto industry to publish monthly Proof of Reserves to validate its full backing of user funds held on the platform. Using open-source verification tools, users can independently confirm that their assets are backed by OKX reserves. Since launching Proof of Reserves in late 2022, OKX has published 18 consecutive monthly snapshots while driving the industry's adoption of new and improved reporting standards.
OKX has a strong global presence, and recently launched its product in Türkiye, Argentina and Brazil. In March, OKX received In-Principle Approval for a Major Payment Institution (MPI) license in Singapore and received its Virtual Asset Service Provider (VASP) license in Dubai in January.
OKX is a top partner of McLaren Formula 1 team, English Premier League champions Manchester City FC, the Majesticks LIV golf team, and is the presenting partner of the iconic Tribeca Film Festival. OKX also sponsors the well-known Australian Olympian snowboarder Scotty James.
*Derivatives and margin related products and services will be provided to verified wholesale clients only by OKX Australia Financial Pty Ltd, provided that they meet the definition of a wholesale client as set out in the Corporations Act 2001 (Cth)
Learn more at okx.com
For further information, please contact:
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About OKX
OKX is a leading global crypto exchange and innovative Web3 company. Trusted by more than 50 million global users, OKX is known for being one of the fastest and most reliable crypto apps in the world.
As a top partner of English Premier League champions Manchester City FC, McLaren Formula 1 and Olympian Scotty James, OKX aims to supercharge the fan experience with new engagement opportunities. OKX is also the top partner of the Tribeca Festival as part of an initiative to bring more creators into Web3.
The OKX Wallet is the platform's latest offering for people looking to explore the world of NFTs and the metaverse while trading GameFi and DeFi tokens.
OKX is committed to transparency and security and publishes its Proof of Reserves on a monthly basis.
To learn more about OKX, download our app or visit: okx.com
Disclaimer
Information about: digital currency exchange services is prepared by OKX Australia Pty Ltd (ABN 22 636 269 040); derivatives and margin by OKX Australia Financial Pty Ltd (ABN 14 145 724 509, AFSL 379035) and is only intended for wholesale clients (within the meaning of the Corporations Act 2001 (Cth)); and other products and services by the relevant OKX entities which offer them (see Terms of Service - Australia). Information is general in nature and should not be taken as investment advice, personal recommendation or an offer of (or solicitation to) buy any crypto or related products. You should do your own research and obtain professional advice, including to ensure you understand the risks associated with these products, before you make a decision about them. Past performance is not indicative of future performance - never risk more than you are prepared to lose. Read OKX's Terms of Service - Australia for more information.
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