Crypto Giant OKX Expands to Australia, Introduces Spot and Derivatives Trading

OKX, the second-largest crypto exchange by trading volume and a leading Web3 technology company, has officially launched crypto exchange services in Australia.

OKX now offers spot and derivatives trading services to relevant users through its Australian registered entities. Additionally, local users can directly deposit and withdraw Australian dollars (AUD) on the platform and can purchase cryptocurrencies with fiat currencies through third-party platforms such as Simplex, MoonPay, and Banxa.

According to OKX, the crypto trading giant will provide over-the-counter (OTC) spot trading services to all users in Australia via OKX Australia Pty Ltd., its locally incorporated entity registered with AUSTRAC. Its derivatives trading services, including futures, options, and perpetual swaps, will only be offered through OKX Australia Financial Pty Ltd., its other AUSTRAC registered entity, to verified wholesale clients who meet the relevant Corporations Act 2001 (Cth) definition. Australia Financial Pty Ltd. also holds an Australian Financial Services (AFS) license granted by ASIC.

Jamie Kennedy, OKX Australia General Manager, said: "Australian crypto users deserve a platform that is secure, easy-to-use and responsive to their needs, which include seamless access to banking rails as well as AUD pairs for the most popular cryptocurrencies. It's my job to make sure that while we offer the best product, we also invest in compliance and security to give peace of mind to our users. I'm proud to say we have assembled a great local team that will ensure OKX contributes to Australia's crypto industry for years to come."

To enter the Australian market, OKX established an office in Sydney in May of last year and has spent the past year assembling a team of experts in management, legal, compliance, and other specialties.

OKX has also been continuously adjusting its global business layout in recent years. Recently, the crypto exchange obtained In-Principle approval for MPI license in Singapore and received a VASP license in Dubai​, and has newly launched its crypto services in Türkiye​, Argentina and Brazil​. Furthermore, OKX has announced the termination of its Mining Pool and related services at the end of February and its withdrawal from the Indian market​ the following month.