Key Points
- Crypto exchange OKX has introduced AUD trading pairs for Australian customers.
- This move is part of OKX’s continued expansion in Australia and aims to drive adoption of cryptocurrency in the country.
Cryptocurrency exchange OKX has launched AUD trading pairs for its Australian customers, according to a recent press release. This addition makes OKX the largest global exchange offering order book-based AUD pairs for spot trading in Australia.
OKX’s Growth in Australia
From today, Australian crypto traders will be able to buy and sell major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and USD Coin (USDC) directly against the local fiat currency.
This move comes three months after OKX expanded its global operations to Australia in May, launching a regional platform dedicated to servicing users in the region.
The platform allowed users to access the company’s spot market and derivatives trading for verified wholesale clients. It also provided local customers with the ability to deposit and withdraw AUD via local banks, and access express buy/sell and convert functions.
The introduction of AUD trading pairs further strengthens OKX’s presence in Australia. Jamie Kennedy, the regional manager of OKX Australia, stated that the new offering is a direct response to the demands of local traders.
Boosting Crypto Adoption in Australia
Kennedy believes that offering local fiat trading capabilities will be crucial in driving the adoption and development of the local crypto ecosystem. He added that OKX will continue investing in and introducing new, tailored products to help realize this vision.
OKX has been steadily expanding its global footprint since the start of this year. In June, it extended its services in Europe with the launch of a dedicated platform for users in the European Economic Area (EEA).
Shortly after the launch, OKX expanded to the Netherlands, allowing Dutch users to access both its digital assets trading platform and Web3 wallet.
The firm partnered with a local payment provider called iDeal to enable users to deposit European euros into their trading accounts. This integration allows traders to easily fund their accounts to buy up to 150 different cryptocurrencies available on the platform.
In early 2024, OKX secured a regulatory license in Dubai, enabling it to bring its full suite of products to the market. Around the same time, the company also obtained another license in Singapore.
