Markets
Crypto Exchange OKX Enters Australian Market, Offering Spot and Derivatives Trading
Crypto exchange OKX announced on Tuesday the launch of your services in Australiaserving spot and derivatives traders, positioning it as one of the largest global exchanges offering direct deposits and withdrawals in Australian dollars.
What happened: Australian users can now deposit and withdraw Australian dollars through most local banks, utilizing express buy and sell orders, peer-to-peer (P2P) and conversion functions along with spot trading.
Additionally, the platform supports fiat-to-crypto currency purchases through third-party services such as Simplex, MoonPay, and Banxa.
OKX offers 170 crypto pairs covering 85 tokens including Bitcoin (CRYPTO: Bitcoin), Ethereum (CRYPTO: ETH), Solana (CRYPTO: SUN), It is Lashing (CRYPTO: USDT), with plans to continually expand token offerings.
In anticipation of its entry into the Australian market, OKX opened an office in Sydney in May 2023 and built a team across management, legal, compliance and other sectors over the past year.
Read too: US Bitcoin Spot ETFs Receive $66M Net Inflows While Hong Kong ETFs Lag
“Australian crypto users deserve a platform that is secure, easy to use and responsive to their needs,” he said JamieKennedy, General Manager of OKX Australia. “This includes continued access to banks 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 Center (AUSTRAC).
Derivatives trading, which includes futures, options and perpetual swaps, is available exclusively to verified wholesale clients under the Corporations Act 2001 (Cth) through 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 registered with AUSTRAC.
OKX recently launched services in Türkiye, Argentina and Brazil, and the cryptocurrency exchange recently received regulatory approvals in Singapore and Dubai.
What comes next: The global expansion of cryptocurrency exchanges will be a talking point at Benzinga’s Future of digital assets event on November 19, where industry leaders will come together to explore the evolving landscape of digital finance.
Read next: President Biden Cracks Down on China-Backed Crypto Mining Facility Near US Missile Base
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