As a seasoned crypto investor with a keen interest in the latest developments within the industry, I’m thrilled to witness OKX’s strategic expansion into the Australian market. This move not only underscores their commitment to serving local users but also represents a significant step towards much bigger global ambitions.
“OKX has recently increased its presence globally by launching its cryptocurrency spot and derivatives trading platform in Australia as of Tuesday. This major crypto exchange, known for its extensive reach around the world, intends to provide a broad range of services to Australian users.”
Based on OKX’s announcement, the upcoming platform offers spot trading opportunities to every user in Australia. Yet, access to derivatives trading is restricted only to certified wholesale clients, the firm added.
One advantage of using the newly introduced platform for Australians is that they can now easily deposit or withdraw Australian dollars (AUD) through many local banks. Additionally, OKX verifies that users will instantly have access to trade among 85 digital tokens or 170 cryptocurrency pairings upon signing up.
Over the past year, OKX has been deliberate in building a diverse and skilled team based in Sydney, their new office location. Their goal was to recruit individuals with expertise in management, law, and compliance.
According to Jamie Kennedy, the General Manager of OKX Australia, it seems that the objective has now been met. Kennedy expressed his joy over the current situation in his recent statement.
As a analyst, I’m thrilled to announce that we have successfully put together a talented local team here in Australia. This dedicated group will be instrumental in positioning OKX as a significant player in the country’s crypto industry, ensuring our long-term commitment and growth in this market.
OKX Australia: A Step towards Much Bigger Global Ambitions
As an analyst, I’ve noticed that OKX’s recent actions indicate their strong dedication to fostering growth in Australia’s burgeoning cryptocurrency market. However, it’s essential to consider the bigger context. Over the past few months, this crypto platform has been actively working on broadening its reach on a global scale.
In simpler terms, the company obtained a VASP license in Dubai and received an initial approval for a similar license in Singapore by early 2024.
In an additional development, OKX launched X Layer, its Ethereum-based zero-knowledge Layer 2 network, in April. This project intends to provide access to a wide variety of decentralized apps for OKX’s substantial user community.
I’m proud to be part of the OKX community, which currently counts over 50 million users worldwide. We’ve made a strong mark in the crypto exchange scene, becoming the third-largest platform globally by monthly trading volume as of April this year. Trailing only Binance and Bybit, we recorded an impressive $110.7 billion in trading volume during that period.
The introduction of the new platform in Australia significantly boosts OKX’s performance in the crypto market, strengthening its status as a major contender. Simultaneously, it attracts a large number of new users internationally.
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2024-05-14 11:28