As a seasoned crypto investor with a strong interest in the Asia-Pacific region, I’m excited about OKX’s expansion efforts into the Australian market. Having closely followed the exchange’s growth over the past year, I’ve been impressed by their commitment to providing a secure and user-friendly platform for Aussie crypto enthusiasts.
OKX, a cryptocurrency exchange, is transferring its Australian operations to a locally regulated entity in order to advance its growth strategy in the Asia-Pacific market.
At a media gathering in Sydney on May 14th, I, Hong Fang, the president of OKX, made the official announcement of our crypto exchange’s launch.
“According to OKX Australia’s general manager, Jamie Kennedy, Australian crypto users merit a platform that is both secure and user-friendly, catering to their requirements of effortless banking integrations and AUD trading pairs for widely used cryptocurrencies.”
170 crypto trading pairs will be available to Australian users, OKX noted.
Last year in March, OKX announced to CryptoMoon its intention to establish a new office in Australia. They expressed that they perceived a significant demand for cryptocurrencies in the country and viewed it as a crucial market for their expansion.
Starting in March 2020, the Australian services offered by the cryptocurrency exchange shifted from a company based in the Seychelles to two on-shore entities: OKX Australia Pty Ltd for crypto trading and fiat transactions, and OKX Australia Financial Pty Ltd for derivatives and margin solutions.
Australian law mandates that potential users based in Australia undergo a fitness check and qualify as wholesale clients according to the definition set forth in the Corporations Act 2001.
As of March 20th, OKX no longer supports trading for certain tokens and has made its copy trading and yield-generating products unavailable in order to adhere to local regulations. These tokens can only be withdrawn from the platform.
According to data from CoinGecko, the trading volume of this exchange ranks as the third largest globally within the last 24 hours, with a total of approximately $2.8 billion transacted.
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2024-05-14 07:20