OKX Announces Plans to Expand Its Services to Australia

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OKX’s Chief Marketing Officer Haider Rafique believes Australians are leading the charge regarding crypto education and interest level.

OKX, a leading Seychelles-based cryptocurrency exchange, has announced its plans to enter the Australian crypto market. The move comes as part of the company’s global expansion efforts and reflects their belief that Australia is ready for greater adoption and utilisation of cryptocurrencies.

According to Rafique, Australians have a “huge appetite” for crypto products and services, indicating clear growth potential in the market. 

“What I’ve interestingly found over the last 5-6 years is that Australian retail investors certainly show a huge appetite for exploring crypto as an investment vehicle and also for trading. When I came to OKX, I certainly saw that in terms of web traffic and people from Australia trying to explore OKX services,” Rafique said.

The trading firm provides complete services for users in over 100 countries, setting it apart from other exchanges. The firm has also demonstrated an ambitious commitment to expanding its global reach with several strategic moves over the past year.

In August 2018, OKX established a Malta-based branch to gain access to the EU market. 

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

According to a Swyftx poll conducted in September 2022, over 1 million Australians or approximately 4 per cent of the population, are anticipated to invest in cryptocurrencies for the first time in the coming year.

The exact location of OKX’s Australian office has yet to be revealed, but sources indicate that it will be large-scale, with OKX currently having more than 1,750 employees.

The expansion into Australia marks a significant milestone for OKX, which is looking to become one of the world’s leading cryptocurrency exchanges. 

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