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OKX launches crypto trading in Australia
Cryptocurrency exchange OKX has launched in Australia with spot and derivatives trading for local users.
After opening an office in Sydney 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 regulations, following the country’s strict financial guidelines, the exchange said in a press release Tuesday.
This means that over-the-counter (OTC) spot trading is available to the entire OKX Australia customer base.
Derivatives, including perpetual swaps and futures, will only be open to verified wholesale clients.
OKX’s expansion into Australia is a response to Australians’ growing interest in cryptocurrencies, with the Australian Securities Exchange (ASX) also considering the introduction of Spot Bitcoin ETFs by the end of 2024.