OKX Launches Spot and Derivatives Crypto Trading in Australia

OKX has officially launched its cryptocurrency exchange in Australia, offering spot and derivatives trading services to users in the country.

OKX has officially entered the Australian market, announcing the launch of its cryptocurrency exchange with both spot and derivatives trading services available from today (Tuesday). While spot trading is open to all users in Australia, derivatives trading is restricted to verified wholesale clients.

Crypto Exchange Debuts in Australia

OKX’s spot trading service features 85 tokens and a total of 170 crypto pairs, with plans to continually expand the number of tokens offered.

The exchange emphasized that its launch in Australia will enable users to deposit and withdraw AUD using local banks. Additionally, Australian users can access peer-to-peer trading and cryptocurrency conversion functions. OKX also facilitates the purchase of cryptocurrencies through third-party platforms Simplex, MoonPay, and Banxa.

“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,” said Jamie Kennedy, OKX’s Australia General Manager.

OKX

@okx

Breaking news on OKX down under, announced by McLaren Racing driver @OscarPiastri 🧡

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

May 14, 2024

Ensuring Compliance

The official launch follows the opening of OKX's local office in Sydney a year ago. Spot trading services are offered under OKX Australia Pty Ltd, registered with AUSTRAC, while derivatives trading is managed by Australia Financial Pty Ltd, which holds an Australian Financial Services license and is also AUSTRAC registered.

Emphasizing the importance of regulatory compliance, Kennedy stated, “It's my job to make sure that while we offer the best product, we also invest in compliance and security to give peace of mind to our users.”

Beyond Australia, OKX is expanding its reach in other regions. The exchange has received initial approval in Singapore, obtained a crypto license in Dubai, and launched services in Turkey, Argentina, and Brazil. Conversely, OKX has withdrawn its services from India due to local regulatory issues.

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