OKX Launches Virtual Currency Exchange in Australia, Offering Spot and Derivative Trading
Global leading Web3 technology company and virtual asset exchange OKX has officially launched its cryptocurrency exchange in Australia, providing spot trading for all users and derivative product trading for certified corporate clients 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 enjoy P2P and exchange services. Users can also purchase virtual assets with fiat currency through third-party platforms Simplex, MoonPay, and Banxa. Spot trading users have access to 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 listing here.
To prepare for entering the Australian market, OKX established an office in Sydney in May 2023 and formed 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.
All Australian users can enjoy OTC spot trading services through OKX Australian Pty Ltd, which is registered with AUSTRAC as a local company. The trading services for derivative products (futures, options, and perpetual contracts) will be provided exclusively by OKX Australian Financial Pty Ltd to corporate clients verified under the relevant definition of the “Corporations Act 2001 (Federal)”. OKX Australian Financial Pty Ltd is a local company with an Australian Financial Services (AFS) license regulated by ASIC and is also registered with AUSTRAC.
Jamie Kennedy, General Manager of OKX Australia, said, “Australian virtual asset users need a platform that is secure, user-friendly, and can quickly respond to their needs, including seamless integration with banks and Australian dollar pairs linked to the most popular virtual currencies. My job is to ensure that we provide the best products while continuing to enhance compliance and security, allowing our users to use them with peace of mind. I am proud that we have assembled an excellent local team that will contribute to the Australian virtual asset industry in the coming years.”
OKX, with its commitment to transparency, is one of the earliest companies in the virtual asset industry to release monthly reserve certificates to verify comprehensive protection of user funds held on the platform. Users can also independently verify that their assets are supported by OKX reserves using open-source verification tools. Since the launch of reserve certificates at the end of 2022, OKX has released reports for 18 consecutive months while actively promoting the adoption of new and more advanced reporting standards in the industry.
OKX has a strong global presence, recently launching products in Turkey, Argentina, and Brazil, and obtaining provisional approval 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 showcase 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 clients who have undergone suitability assessments and meet the definition of corporate clients listed in the “Corporations Act 2001 (Federal).”
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