As a seasoned analyst with extensive experience in the cryptocurrency market, I can confidently say that OKX’s continuous expansion into key markets such as Australia is a strategic move that underscores their commitment to global growth and catering to local demands.
As stated in a recent announcement, this new feature makes our company the world’s leading exchange to provide AUD pairs for spot trading with an order book in the nation.
OKX Continued Expansion in Australia
As a crypto analyst, I’m thrilled to announce that from today onwards, I, alongside many other Australian traders, will have the opportunity to directly purchase and sell prominent cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and USD Coin (USDC) using our local fiat currency. This development opens up a new horizon for crypto trading in Australia!
Almost three months ago, OKX broadened its international reach by entering the Australian market in May. During this expansion, they debuted a localized platform aimed at catering to users in that specific region.
Users can utilize this platform to gain access not only to the company’s spot market, but also to trade derivatives, provided they have been verified as wholesale clients.
The exchange also provided local customers with the ability to deposit and withdraw AUD via local banks, and access express buy/sell and convert functions, making it easier for them to engage with the crypto market.
Meanwhile, OKX Australia has strengthened its position within the country by launching AUD trading pairs. As stated by Jamie Kennedy, the regional manager for OKX Australia, this latest addition caters directly to the needs of domestic traders.
He stated that introducing the crypto-Australian Dollar (AUD) trading options was a direct reflection of the needs expressed by our Australian clients, and a testament to the hard work and dedication of our team in providing top-quality and regionally relevant products for our customers.
Driving Adoption in the Australian Crypto Market
Kennedy posits that this latest product could substantially boost the acceptance of the growing Australian economy, since it allows residents to purchase Bitcoin directly with their traditional money.
“It’s important for us to provide options for trading local currencies, as this will foster the growth and acceptance of cryptocurrencies in our region. We plan to keep pouring resources into innovative, customized services that align with our goal.” (He went on to say)
As an analyst, I’ve noticed a consistent growth in OKX’s global reach this year. Notably, they unveiled their plans to extend services within Europe in June, by introducing a specialized platform tailored for users within the European Economic Area (EEA).
Following its debut, I found myself able to tap into the platform’s digital asset trading and Web3 wallet services, thanks to the exchange’s strategic expansion into the Netherlands, where I reside.
As per the announcement made in June, the company has partnered with a local payment service provider known as iDeal, facilitating users to deposit European euros into their trading accounts. This partnership streamlines the process of funding accounts, enabling traders to effortlessly invest in up to 150 different cryptocurrencies accessible on the platform.
By mid-2024, OKX obtained a regulatory permit in Dubai and Singapore, allowing them to offer their complete product line in these regions.
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2024-08-19 13:46