A prominent cryptocurrency exchange and Web3 technology firm, OKX, has formally rolled out its cryptocurrency exchange services in Australia.
The platform now enables spot trading for all users and derivatives trading exclusively for verified wholesale clients within Australia. With this launch, OKX becomes the largest global cryptocurrency exchange offering direct Australian Dollar (AUD) deposits and withdrawals to Australian users.
Australian users of OKX can now deposit and withdraw AUD via most Australian banks, gaining access to express buy/sell, peer-to-peer (P2P), and conversion functions, in addition to spot trading. Moreover, users can purchase cryptocurrencies with fiat through third-party platforms such as Simplex, MoonPay, and Banxa. OKX Australia provides access to a comprehensive range of 170 cryptocurrency spot pairs and 85 tokens, including popular cryptocurrencies like Bitcoin, Ethereum, Solana, and Tether (USDT), with continuous plans for token listings.
In preparation for its expansion into the Australian market, OKX established an office in Sydney in May 2023 and assembled a team of professionals specializing in management, legal, compliance, and other relevant areas over the past year.
OKX offers over-the-counter (OTC) spot trading services to all users in Australia through OKX Australia Pty Ltd., a locally incorporated entity registered with AUSTRAC. However, derivatives trading services, including futures, options, and perpetual swaps, are exclusively available to verified wholesale clients who meet the relevant regulatory requirements, conducted through OKX Australia Financial Pty Ltd. This entity holds an Australian Financial Services (AFS) license regulated by ASIC and is also AUSTRAC registered.
Representatives from OKX Australia emphasized the platform’s commitment to providing Australian users with a secure, user-friendly, and responsive trading experience. They also highlighted the importance of seamless access to banking services and AUD pairs for cryptocurrencies, underscoring the platform’s focus on compliance and security.