OKX launches a cryptocurrency exchange in Australia, offering spot and derivative trading
To prepare for entering the Australian market, OKX established an office in Sydney in May 2023 and has built a team over the past year consisting of professionals in governance, legal, and compliance.On May 14, 2024, the global leading Web3 technology company and virtual asset exchange OKX announced the official launch of its cryptocurrency exchange in Australia, providing all users with spot trading and offering derivative product trading for certified corporate clients in Australia. The platform has now become the largest global cryptocurrency exchange to offer direct AUD deposits and withdrawals to Australian users.
In addition to spot trading, OKX users in Australia can now deposit and withdraw AUD through most Australian banks, buy or sell quickly, and access P2P and exchange services. Users can also purchase cryptocurrencies using fiat currency through third-party platforms Simplex, MoonPay, and Banxa. Spot trading users can access a total of 170 cryptocurrency spot pairs and 85 tokens, including Bitcoin, Ethereum, Solana, and Tether (USDT). More tokens will continue to be listed in the future, and Australian users can find the latest list of newly listed tokens at https://www.okx.com/markets/prices.
To prepare for entering the Australian market, OKX established an office in Sydney in May 2023 and has built a team of professionals in governance, legal, and compliance over the past year. In the future, OKX will further invest in the virtual asset ecosystem in Australia.
All Australian users can enjoy OTC spot trading services through OKX Australia Pty Ltd, which is registered as a local company with AUSTRAC. The derivative products (futures, options, and perpetual contracts) trading services will be provided exclusively to verified corporate clients that meet the definitions outlined in the "Corporations Act 2001 (Cth)" by OKX Australia Financial Pty Ltd. OKX Australia Financial Pty Ltd is a local company holding an Australian Financial Services (AFS) license regulated by ASIC and is also registered with AUSTRAC.
Jamie Kennedy, General Manager of OKX Australia, stated: "Australian virtual asset users need a secure, user-friendly platform that can quickly respond to their needs, including seamless integration with banks and AUD pairs linked to the most popular cryptocurrencies. My job is to ensure we provide the best products while continuing to enhance compliance and security, allowing our users to use our services with peace of mind. I am proud that we have built an excellent local team that will ensure OKX contributes to the virtual asset industry in Australia in the coming years."
OKX is committed to transparency and is one of the first companies in the virtual asset industry to publish monthly proof of reserves to verify that user funds held on the platform are fully protected. Users can also use open-source verification tools to independently verify that their assets are supported by OKX reserves. Since the launch of the proof of reserves at the end of 2022, OKX has released reports for 18 consecutive months and actively promotes the adoption of new and more advanced reporting standards in the industry.
OKX has a strong global presence, recently launching products in Turkey, Argentina, and Brazil, and in March received in-principle approval for a Major Payment Institution (MPI) license in Singapore, as well as a Virtual Asset Service Provider (VASP) license in Dubai in January.
OKX is also a top partner of the McLaren Formula 1 team and the Premier League champions Manchester City Football Club, as well as a showcase partner of the iconic Tribeca Film Festival. OKX has also sponsored renowned Australian Olympic snowboarder Scotty James.
*Derivative products and margin-related products and services will be provided by OKX Australia Financial Pty Ltd, exclusively to verified corporate clients who must pass a suitability assessment and meet the definitions of corporate clients outlined in the "Corporations Act 2001 (Cth)." Please visit okx.com for more information.
About OKX
OKX is an industry-leading virtual asset exchange and Web3 ecosystem. OKX has developed fast and reliable virtual asset applications that are favored by over 50 million investors and professional traders worldwide. OKX closely collaborates with Manchester City F.C., the champions of the English Premier League, the McLaren F1 Team, and Olympic snowboarder Scotty James, aiming to enhance fan experiences through new interactive methods. Additionally, OKX is a top partner of the Tribeca Festival, dedicated to attracting more creators into the Web3 space. Besides exchange services, OKX has recently launched the OKX Web3 wallet service, providing users with access to trade GameFi and DeFi tokens while exploring the realms of NFTs and the metaverse. OKX is committed to enhancing transparency and security, releasing its proof of reserves report monthly. For more information about OKX, please download our app or visit: okx.com
Disclaimer
Related information: Digital currency exchange services are provided by OKX Australia Pty Ltd (ABN 22 636 269 040); derivative products and margin trading are provided by OKX Australia Financial Pty Ltd (ABN 14 145 724 509, AFSL 379035), exclusively for corporate clients (as defined in the "Corporations Act 2001 (Cth)"); and products and services provided by other related OKX companies (see "User Terms of Use - Australia"). This announcement is for general information only and should not be considered as investment advice, personal recommendations, or an offer to buy, sell, or hold virtual assets. Before making decisions, you should conduct thorough research and consult experts to ensure you understand the risks associated with such products. Past performance does not guarantee future results; do not invest more than you are prepared to lose. Read OKX's "User Terms of Use - Australia" for more information.
