Thursday, May 23, 2024 – Leading crypto exchange OKX launched their services in Australia on May 13, 2024, offering buy and sell trading for all users and derivatives trading for verified wholesale clients. 1
Since Australia is seen as a hub for decentralized technology with diversified users and professionals, OKX said it is dedicated to initiating new ventures, scheming a long-term plan with Australians, and opening an office in Sydney. 1
With the launch of OKX in Australia, crypto-based users are eligible to withdraw and deposit AUD through most banks across the country. Platforms like MoonPay, Simplex, and Banxa can be used to purchase crypto with fiat, according to the source. 1
The Australian-based OKX user base would also be offered access to numerous crypto assets.
Access to a total of 85 tokens comprised of BIT, ETH, Solana, and Tether (USDT), plus the 170 crypto spot pairs for spot trading users, will be offered, and more tokens are set to be enlisted.
In preparations for the long-term venture, OKX said it was engaging with experts in different sectors, such as management and legal, for a sustainable eco system.
The spot and derivatives products will be offered by two entities, and they will be:
- 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.
- Derivatives (futures, options, and perpetual swaps) trading services will only be offered to verified wholesale clients within the meaning of the Corporations Act 2001 (Cth) via OKX Australia Financial Pty Ltd., a local entity that holds an Australia Financial Services (AFS) license regulated by ASIC and is also AUSTRAC registered.
