Crypto Exchange OKX Eyes Expansion of Operations in Australia

• The exchange sees Australia as a promising market for the next wave of crypto adoption.
• OKX announced the opening of a new office in Australia.

OKX, a cryptocurrency exchange located in Seychelles, has indicated its desire to begin offering its services in Australia. The exchange sees Australia as a promising market for the next wave of cryptocurrency adoption.

In a statement released on March 29th, the trading platform said that Australia will be an important growth area for the company going ahead. The company boasts that it serves clients in more than 100 different nations. OKX received a preliminary license in Dubai in July of last year.

The exchange stated:

“We see Australia as an indispensable part of this strategy and a key growth market. With such a strong uptake of crypto in Australia already, we’re committed to the local market and aim to build a strong local office.”

New Office in Australia

OKX’s chief marketing officer, Haider Rafique, told that the country’s decision to expand “Down Under” was spurred by Australians’ great enthusiasm for new crypto investment and trading products. Rafique thinks Australians are more crypto-savvy than the rest of the world, which will make it easier for OKX to get into the market. The exchange even held an event in Melbourne, attended by crypto enthusiasts and well-known figures. The exchange announced the opening of a new office in Australia.

Around 4 percent of Australia’s population, or 1 million people, are predicted to invest in cryptocurrency for the first time in the next 12 months, according to a poll conducted in September by Australian cryptocurrency exchange Swyftx.

It is believed that the exchange has not yet registered with AUSTRAC, the regulatory body that is necessary in order to provide crypto services in Australia. But with the desire shown, it will likely apply in the near future.

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