OKX Plans Expansion In Australia Citing “Huge Appetite” For Crypto

March 30, 2023

OKX Plans Expansion In Australia Citing Huge Appetite For Crypto

Seychelles – based Crypto Exchange OKX showed its intention to expand crypto services in Australia while promoting crypto education. The chief marketing officer of OKX also commented that Australians are above par when it is about crypto education and interest.  Thus, Australia is primed to take the crypto adoption journey to the most incredible heights.

OKX already offers its services to more than 100 countries. The exchange expanded its operations to Malta in August 2018 and secured a provisional license in Dubai in July 2022.

OKX also stated that Australia is a potential growth market for companies planning to expand. It further stated that Australia has a strong uptake for cryptocurrency. Thus, OKX is committed to the local market in Australia and aims to build a strong local office in the country too.

Alongside, in 5-6 years Australian retail investors showed a massive appetite for crypto investment and trading. Moreover, OKX’s major web traffic was found to be from Australia, where people also tried exploring OKX services.

According to the September survey by Australian Crypto Exchange Swyftx, more than 1 million Aussies are expected to step into the crypto industry as first-time users in the coming 12 months. This indicated that around 4% of the country’s population would be a part of the cryptocurrency ecosystem.

Amidst the plan to expand in Australia, OKX can be seen applying for Virtual Asset Service Provider (VASP) license in Hong Kong. The expansion plan of OKX in Australia and Hong Kong came to the limelight after the exchange announced its plans to cease its operations and services in Canada completely.

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