OKX launches spot and derivatives trading in Australia

OKX has confirmed the launch of OKX Australia Pty Ltd., with an office in Sydney that opened in May 2023. OKX offers spots and derivatives in the region. The spot offering is accessible to all users. Derivative trading is restricted to verified wholesale clients only. The exchange platform allows direct deposits and withdrawals of Australian dollars. The said fiat currency further qualifies for the purchase of 85 tokens and 170 crypto spot pairs.

Tokens available on OKX Australia include Bitcoin, Ethereum, and Solana, among others. As operations progress in Australia, more tokens are likely to emerge. Australian banks facilitate the deposit and withdrawal of currency. Cryptocurrencies can also be bought by leveraging the functionality of third parties, namely MoonPay, Simplex, and Banxa.

Jamie Kennedy, the General Manager at OKX Australia, said that the platform has entered the market to give Australian users what they deserve: seamless access, easy-to-use UI, and a secure experience. Jamie expressed his commitment to investing in compliance and security to ensure that users have the best experience with peace of mind, adding that OKX Australia will contribute to the crypto industry in the years to come.

OKX Australia Pty Ltd. has been registered with AUSTRAC. It is mandatory for wholesale clients to meet the relevant Corporations Act 2001 (Cth) definition.

A presence in Australia contributes to the platform’s growing global presence. Its operations are accessible in Argentina, Turkiye, and Brazil. The last update was received in March when Singapore granted In-Principle Approval for a Major Payment Institution License. Dubai granted OKX a Virtual Asset Service Provider (VASP) license in January.

All in all, OKX is growing its operations in multiple countries, and 2024 builds on its commitment to making its functions accessible to as many users as possible. Launched in 2017, OKX now has more than 300 cryptocurrencies and over 500 trading pairs. More such details can be read in our OKX exchange review. It further talks about customer support, withdrawal fees, and transaction fees of the platform.

Top traders choose OKX due to its low trading fees, multiple payment methods, zero deposit fee, easy user interface, and availability of a demo account. The region and launch stage may determine the actual availability of functionality, but it is generally accessible wherever OKX is present.

OKX’s demo account is one of its useful features. It allows new traders to familiarize themselves with its tools and operating methods. It also serves as a safe environment for traders to practice their skills without losing a single penny.

OKX is expected to release advanced features in the coming days, including NFT Marketplace and Algo-order options. The platform is also likely to list more tokens.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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