Global Web3 technology company and virtual asset exchange OKX has officially launched its services for Australian users. The platform now offers spot trading for all users and derivative products for verified corporate clients in the region. It has become the largest global virtual currency exchange to offer direct Australian dollar deposits and withdrawals for Australian users.
Comprehensive Trading Services for Australian Users
In addition to spot trading, OKX Australia users can now deposit and withdraw Australian dollars through most Australian banks. The platform provides quick buy/sell functionality along with peer-to-peer (P2P) and conversion services. Users can also purchase virtual currencies using fiat currency through third-party platforms including Simplex, MoonPay and Banxa.
Spot trading users gain access to 170 virtual currency spot pairs and 85 different tokens including Bitcoin, Ethereum, Solana and Tether (USDT). The exchange continues to list additional tokens regularly, and Australian users can check the platform for the most updated list of available tokens.
OKX's Strategic Expansion into Australia
In preparation for its Australian market entry, OKX established an office in Sydney in May 2023. Over the past year, the company has built a local team with expertise in corporate governance, legal affairs, and compliance. The exchange has committed to further investment in Australia's virtual asset ecosystem moving forward.
All Australian users can access OTC spot trading services through OKX Australia Pty Ltd, which is registered as a local company with AUSTRAC. Derivative products including futures, options and perpetual contracts are offered by OKX Australia Financial Pty Ltd exclusively to verified corporate clients who meet the definition under the Corporations Act 2001 (Cth). OKX Australia Financial Pty Ltd holds an Australian Financial Services (AFS) license regulated by ASIC and is also registered with AUSTRAC.
Leadership Perspective on the Australian Market
OKX Australia General Manager Jamie Kennedy stated: "Australian virtual asset users need a secure, easy-to-use platform that quickly responds to their needs, including seamless banking integration and Australian dollar pairs with the most popular virtual currencies. My job is to ensure we deliver the best possible product while continuing to enhance compliance and security so our users can trade with peace of mind. I'm proud that we've assembled an excellent local team that will ensure OKX contributes to Australia's virtual asset industry for years to come."
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Commitment to Transparency and Security
OKX maintains a strong commitment to transparency, being among the first in the virtual asset industry to publish monthly proof-of-reserve reports. These reports verify that user funds held on the platform are fully backed. Users can independently verify that their assets are supported by OKX's reserves using open-source verification tools.
Since launching its proof-of-reserve program in late 2022, OKX has consistently published reports for 18 consecutive months while actively promoting the adoption of new and more advanced reporting standards across the industry.
Global Presence and Strategic Partnerships
OKX maintains a strong global presence with recent product launches in Turkey, Argentina and Brazil. In March, the company received in-principle approval for a Major Payment Institution (MPI) license in Singapore, followed by a Virtual Asset Service Provider (VASP) license in Dubai in January.
The exchange serves as a principal partner for the McLaren Formula 1 team and Premier League champions Manchester City Football Club. OKX also functions as a presenting partner for the Tribeca Film Festival and sponsors Australian Olympic snowboarder Scotty James.
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Frequently Asked Questions
What services does OKX offer Australian users?
Australian users can access spot trading, P2P services, and conversion features alongside AUD deposit and withdrawal options through most Australian banks. Corporate clients meeting specific criteria may also access derivative products under appropriate regulations.
How can I deposit Australian dollars to OKX?
You can deposit AUD through most Australian banking institutions directly to the platform. The exchange also supports third-party payment processors including Simplex, MoonPay and Banxa for fiat currency conversions.
What security measures does OKX implement?
OKX employs monthly proof-of-reserve reporting, allowing users to independently verify that their assets are fully backed. The Australian entity maintains proper registration with AUSTRAC and holds an AFS license regulated by ASIC.
Who can access derivative trading on OKX Australia?
Derivative products are exclusively available to verified corporate clients who meet the specific definition under the Corporations Act 2001 (Cth) and pass suitability assessments conducted by OKX Australia Financial Pty Ltd.
Which cryptocurrencies are available on OKX Australia?
The platform currently offers 85 tokens and 170 trading pairs, including major cryptocurrencies like Bitcoin, Ethereum, Solana and Tether, with additional tokens being added regularly.
What makes OKX different from other exchanges?
OKX distinguishes itself through its strong regulatory compliance across multiple jurisdictions, commitment to transparency through proof-of-reserves, and established partnerships with major sports organizations and cultural events.
Trading virtual assets involves significant risk as prices can be highly volatile. You may lose your entire investment. Please carefully consider your risk tolerance and investment objectives before participating.