OKX, a leading global Web3 technology company and virtual asset exchange, has officially launched its cryptocurrency exchange in Australia, offering spot trading for all users and derivative product trading for certified corporate customers in Australia. The platform has now become the largest global virtual asset exchange to offer direct Australian dollar deposits and withdrawals to Australian users.
In addition to spot trading, OKX Australian users can now deposit and withdraw in Australian dollars through most Australian banks, buy or sell quickly, and access P2P and exchange services. Users can also purchase virtual currencies with fiat currencies through third-party platforms Simplex, MoonPay, and Banxa. Spot trading users can access a total of 170 virtual asset 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 check the latest token listings here.
To prepare for entry into the Australian market, OKX established an office in Sydney in May 2023 and built a team of professionals in corporate governance, legal affairs, and compliance over the past year. In the future, OKX will further invest in the Australian virtual asset ecosystem.
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All Australian users can enjoy OTC spot trading services through OKX Australia Pty Ltd, a locally registered company under AUSTRAC. The trading services for derivative products (futures, options, and perpetual contracts) will be provided by OKX Australian Financial Pty Ltd only to corporate customers verified according to the definition of “Corporation” under the Corporations Act 2001 (Federal). OKX Australian Financial Pty Ltd is a local company holding an Australian Financial Services (AFS) license regulated by ASIC and registered with AUSTRAC.
Jamie Kennedy, General Manager of OKX Australia, said, “Australian virtual asset users need a secure, user-friendly platform that can quickly respond to their needs, including seamless integration with banks and pairing with the most popular virtual currencies in Australian dollars. My job is to ensure the best products are provided while continuing to enhance compliance and security, allowing our users to use the platform with peace of mind. I am proud that we have built an excellent local team that will contribute to the Australian virtual asset industry in the coming years.”
OKX, committed to transparency, is one of the earliest companies in the virtual asset industry to release monthly reserve proof, verifying the comprehensive protection of user funds held on the platform. Users can also independently verify the support of user assets by OKX reserves using open-source verification tools. Since the introduction of reserve proof at the end of 2022, OKX has released 18 months of reports and actively promoted the adoption of new and more advanced reporting standards in the industry.
OKX has a strong global presence and has recently launched products in Turkey, Argentina, and Brazil, as well as received provisional approvals for a Major Payment Institution (MPI) license in Singapore in March and a Virtual Asset Service Provider (VASP) license in Dubai in January.
OKX is also a top partner of the McLaren Formula 1 team and English Premier League champions Manchester City Football Club, as well as a presenting partner of the iconic Tribeca Film Festival. OKX also sponsors renowned Australian Olympic snowboarder Scotty James.
*Derivative products and related products and services will be provided by OKX Australian Financial Pty Ltd only to verified corporate customers who have undergone suitability assessments and meet the definition of “Corporation” as specified in the Corporations Act 2001 (Federal).
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