Hassan Maishera
TL;DR
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Crypto exchange OKX will offer spot trading services to all Australian users.
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The launch comes after the exchange obtained its Dubai license earlier this year.
OKX Now Live in Australia
OKX, one of the leading cryptocurrency exchanges in the world, has officially launched its spot and derivatives crypto trading platform in Australia.
While announcing this latest development on Tuesday, May 14th, the crypto exchange said it will offer spot trading services to all Australian users. However, derivatives trading will only be available for verified wholesale clients.
OKX added that its Australian users can also deposit and withdraw AUD via most Australian banks. This would grant them access to a total of 85 crypto tokens, or 170 crypto spot pairs.
This latest development comes roughly a year after the company launched its Sydney office to assemble its team in management, legal, compliance and other specialties.
While commenting on the launch, Jamie Kennedy, general manager of OKX Australia, said,
“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.”
The Australian launch also comes as OKX continues to expand its presence globally. The crypto exchange obtained a virtual asset service provider license in Dubai and an in-principle license in Singapore earlier this year.
In April, OKX also launched its own Ethereum-based zero-knowledge Layer 2 network named X Layer. OKX is currently the third-largest cryptocurrency exchange by monthly trading volume, behind only Binance and Bybit.
