Cryptocurrency exchange OKX has launched in Australia with spot and derivatives trading for local users.
Following the establishment of a Sydney office last May, OKX’s Australian venture is the latest in a series of international expansions, with previous entries into markets such as Turkey and Singapore.
OKX Australia will initially offer 170 crypto spot pairs and 85 tokens.
The Australian branch operates under local regulation, aligning with the country’s strict financial guidelines, the exchange said in a press release on Tuesday.
This means that over-the-counter (OTC) spot trading is available for all of OKX Australia’s client base.
Derivative products, including perpetual swaps and futures, will only be open to verified wholesale clients.
The expansion into Australia by OKX is a response to the rising interest in cryptocurrencies among Australians, with the Australian Securities Exchange (ASX) also contemplating the introduction of Spot Bitcoin ETFs by the end of 2024.