The leading cryptocurrency exchange OKX has officially released their spot and derivatives crypt trading system in Australia, as announced on Tuesday. OKX will serve Australian customers through spot transactions and will be limited to customers who have verified that as wholesale clients they can trade by products offered by the exchange. OKX will also support AUD-pegged deposits and withdrawals from most of the country’s banks. It will provide access to 85 cryptos with a total of 170 crypto spot pairs.
OKX Australia Poised for Long-term Contribution to Crypto Industry
OKX’s launch comes a year after establishing its Sydney office to bring together its team of management, legal, compliance, and other specialties. OKX Australia general manager Jamie Kennedy said that they have put together a fantastic local team, and OKX will be an active contributor to Australia’s crypto industry for many years to come. The crypto system has expanded its global profits, obtaining the virtual asset service provider license in Dubai and earning an in-principle license in Singapore early this year.
Last month, OKX developed its profit-target Ethereum-based zkrollin Layer 2 network, X Layer, to introduce its 50 million global users to 1000s Decentralized Applications. OKX was the world’s third-largest cryptocurrency exchange by monthly trading volume until April, trailing only Binance and Bybit, with over $110.7 billion in turnover.
OKX Prepares for Long-term Presence in Australia’s Crypto Market
The country hosts many industries, an infrastructure of stable and strong technology, and a diversified crypto user and crypto natives, developer talent, and professional trader. As the crypto sector grows, Australia seems well-positioned to do the same. The launch date has been a long time coming, and OKX is thrilled to commit to the market as a long-term player.
The Australian launch was a major milestone in several years of preparation, and OKX is thrilled to expand as a long-term participant in the market. As for a year ago, in May 2023, an office in Sydney was established in order to be ready for the entry. A group of great experts, including management, law, compliance and other specialists was formed during the last year.
The goal of OKX is to keep serving Australians in the long-term while following all applicable regulations and protecting all users. OKX will earn confidence of users by delivering a seamless and cutting-edge crypto trading experience for many more years to come.
