OKX Launches Crypto Exchange in Australia with Spot Trading and Derivatives for Wholesale Clients

OKX, a leading global crypto exchange and Web3 technology company, has officially launched its crypto exchange services in Australia. The platform now offers spot trading for all users and derivatives trading for verified wholesale clients*. OKX is currently the largest global crypto exchange providing direct AUD deposits and withdrawals to Australian users.

In addition to spot trading, OKX Australia users can deposit and withdraw AUD through most Australian banks, access express buy/sell, P2P, and convert functions. Users can also purchase crypto with fiat via third-party platforms like Simplex, MoonPay, and Banxa. Spot trading users have access to 170 crypto spot pairs and 85 tokens, including Bitcoin, Ethereum, Solana, and Tether (USDT), with more tokens to be listed on an ongoing basis.

OKX opened an office in Sydney in May 2023 and has since built a team of experts in management, legal, compliance, and other specialties to prepare for its entry into the Australian market. The company plans to further invest in the Australian crypto ecosystem in the future.

OTC spot trading services are provided to all Australian users via OKX Australia Pty Ltd., a locally incorporated entity registered with AUSTRAC. Derivatives trading services, including futures, options, and perpetual swaps, are offered only to verified wholesale clients who meet the relevant Corporations Act 2001 (Cth) definition, through OKX Australia Financial Pty Ltd., a local entity holding an Australia Financial Services (AFS) licence regulated by ASIC and registered with AUSTRAC.

OKX Australia General Manager Jamie Kennedy said: "Australian crypto users deserve a platform that is secure, user-friendly, and responsive to their needs, which include seamless access to banking rails and AUD pairs for the most popular cryptocurrencies. While we offer the best product, we also invest in compliance and security to give our users peace of mind. 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."

OKX is committed to transparency and was among the first in the crypto industry to publish monthly Proof of Reserves to validate its full backing of user funds held on the platform. Users can independently confirm that their assets are backed by OKX reserves using open-source verification tools.

OKX recently launched its product in Türkiye, Argentina, and Brazil. The company received In-Principle 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 sponsors the McLaren Formula 1 team, English Premier League champions Manchester City FC, the Majesticks LIV golf team, and is the presenting partner of the iconic Tribeca Film Festival. The company also sponsors well-known Australian Olympian snowboarder Scotty James.

*Derivatives and margin related products and services will be provided to verified wholesale clients only by OKX Australia Financial Pty Ltd, provided that they meet the definition of a wholesale client as set out in the Corporations Act 2001 (Cth)