Global Web3 technology company and virtual asset exchange OKX has officially launched its cryptocurrency exchange platform in Australia. The platform now offers spot trading services to all users and provides derivatives trading for verified corporate clients in the country. It has become one of the largest global cryptocurrency exchanges to offer direct Australian dollar (AUD) deposits and withdrawals for Australian users.
In addition to spot trading, OKX Australia users can deposit and withdraw AUD through most major Australian banks, quickly buy and sell cryptocurrencies, and access peer-to-peer (P2P) and conversion services. Users can also purchase cryptocurrencies using fiat currency through third-party platforms such as Simplex, MoonPay, and Banxa. Spot traders have access to 170 cryptocurrency spot trading pairs and 85 tokens, including Bitcoin, Ethereum, Solana, and Tether (USDT). More tokens will be listed in the future, and Australian users can check the latest listings on the OKX platform.
To prepare for its entry into the Australian market, 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, and compliance. Moving forward, OKX plans to further invest in Australia’s virtual asset ecosystem.
All Australian users can access over-the-counter (OTC) spot trading services through OKX Australia Pty Ltd, which is registered as a domestic company with AUSTRAC. Derivatives trading services—including futures, options, and perpetual swaps—are provided by OKX Australia Financial Pty Ltd exclusively to corporate clients as defined under the Corporations Act 2001 (Cth). OKX Australia Financial Pty Ltd is a locally incorporated company that holds an Australian Financial Services (AFS) license regulated by ASIC and is also registered with AUSTRAC.
Jamie Kennedy, OKX Australia General Manager, commented: "Australian crypto users need a secure, easy-to-use platform that quickly responds to their needs, including seamless banking integration and AUD trading pairs with the most popular cryptocurrencies. My role is to ensure we deliver the best products while continuously improving compliance and security, so our users can trade with confidence. I am proud of the excellent local team we have built, which will ensure OKX contributes to Australia’s virtual asset industry for years to come."
OKX is committed to transparency and is one of the earliest adopters in the industry to publish monthly Proof of Reserves reports. These reports verify that user funds held on the platform are fully backed. Users can also utilize open-source verification tools to independently confirm that their assets are supported by OKX reserves. Since introducing Proof of Reserves in late 2022, OKX has consistently published reports for 18 consecutive months and actively encourages the industry to adopt new and more advanced reporting standards.
OKX has a strong global presence, with recent expansions into Turkey, Argentina, and Brazil. In March, the company received in-principle approval for a Major Payment Institution (MPI) license in Singapore, and in January, it obtained a Virtual Asset Service Provider (VASP) license in Dubai.
The exchange is also a top-tier partner of the McLaren Formula 1 team and the Premier League champions Manchester City FC, as well as a leading partner of the Tribeca Film Festival. Additionally, OKX sponsors Australian Olympic snowboarder Scotty James.
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Frequently Asked Questions
What services does OKX offer in Australia?
OKX offers spot trading for all users and derivatives trading for verified corporate clients. Users can deposit and withdraw AUD, trade numerous cryptocurrencies, and use P2P services.
How can I deposit Australian dollars into my OKX account?
You can deposit AUD through most major Australian banks directly into your OKX account. The platform supports fast transactions and integration with local banking systems.
Is OKX regulated in Australia?
Yes, OKX operates through OKX Australia Pty Ltd, registered with AUSTRAC, and OKX Australia Financial Pty Ltd, which holds an Australian Financial Services (AFS) license issued by ASIC.
What cryptocurrencies can I trade on OKX Australia?
The platform supports 170 spot trading pairs and 85 tokens, including major cryptocurrencies like Bitcoin, Ethereum, Solana, and Tether (USDT), with more tokens being added regularly.
How does OKX ensure the security of user funds?
OKX uses a Proof of Reserves system, which includes monthly third-party audits and open-source tools allowing users to verify that their assets are fully backed.
Can I use OKX if I’m not a corporate client?
Individual users can access spot trading, P2P services, and AUD deposits/withdrawals. Derivatives trading is available only to eligible corporate clients.
Disclaimer: Digital currency exchange services are provided by OKX Australia Pty Ltd (ABN 22 636 269 040). Derivatives and margin products are offered by OKX Australia Financial Pty Ltd (ABN 14 145 724 509, AFSL 379035) solely to corporate clients as defined in the Corporations Act 2001 (Cth). This announcement is for informational purposes only and should not be considered investment advice. Always conduct your own research and consult with experts before engaging in financial activities involving virtual assets.