OKX enters the Australian market with its Crypto Exchange Launch
OKX, a leading global crypto exchange and Web3 technology company, has officially expanded its crypto services to Australia, according to a May 14 statement.
Breaking news on OKX down under, announced by McLaren Racing driver @OscarPiastri 🧡
— OKX (@okx) May 14, 2024
We've officially launched OKX exchange services in Australia 🇦🇺 @OKXAustralia
We're now the largest global crypto exchange offering AUD on ramps & spot trading pairs. pic.twitter.com/aAyBmLFLtd
As seen on the OKX X account (formerly known as Twitter), Oscar Piastri, a driver for McLaren Racing and one of OKX's primary sponsors, formally announced the company's entry into the Australian market on May 14 at a media event in Sydney.
Oscar said, “Australia, listen up. I have some big news. Australians now have access to one of the world's leading crypto trading apps. Trusted by millions, it is secure, reliable, and easily accessible. Whether you are a seasoned pro or just getting started, OKX gives you confidence with every crypto trade, and it's right here in our backyard. Are you ready? OKX is your new favorite crypto trading app. Now available in Australia.”
For all users, OKX now provides spot (buy and sell) trading and, for verified wholesale clients in Australia, derivatives trading. OKX is currently the largest cryptocurrency exchange in the world, offering direct deposits and withdrawals in local currency (AUD) to Australian users.
In addition to spot trading, users of OKX Australia can now also deposit and withdraw AUD via the majority of Australian banks and access buy or sell, convert, and P2P features. Moreover, users can use third-party platforms such as Simplex, MoonPay, and Banxa to purchase cryptocurrency with fiat.
Spot trading users can choose from 170 crypto spot pairs and 85 tokens, such as Tether (USDT), Ethereum, Solana, and Bitcoin. Ongoing updates will be made to the list of available tokens; Australian users can view the most recent list here.
In May 2023, OKX established an office in Sydney in anticipation of its entry into the Australian market, and for the past year, the company has built a team of specialists in various fields.
"Australian crypto users deserve a platform that is secure, easy-to-use, and responsive to their needs, which include seamless access to banking rails as well as AUD pairs for the most popular cryptocurrencies," stated Jamie Kennedy, general manager of OKX Australia. It is my responsibility to ensure that, in addition to providing the best product, we also make investments in security and compliance to offer our users peace of mind. We have a fantastic local team that will make sure OKX continues to support Australia's cryptocurrency market for many years to come, and I'm proud to say that.
Presently, OKX has more than 50 million users across the globe. It has lately become the third-largest cryptocurrency exchange globally in terms of monthly trading volume. With a trading volume of $110.7 billion in April, it came in third place, right behind Bybit and Binance. With a recent product launch in Turkey, Argentina, and Brazil and obtaining an in-principle license in Singapore and a virtual asset service provider license in Dubai earlier this year, OKX has been expanding its global presence.
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