{"id":20394,"date":"2024-05-15T20:45:35","date_gmt":"2024-05-15T20:45:35","guid":{"rendered":"https:\/\/coinengineer.io\/?p=20394"},"modified":"2024-05-15T14:45:25","modified_gmt":"2024-05-15T14:45:25","slug":"okx-expands-to-australia-enhances-local-services","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/okx-expands-to-australia-enhances-local-services\/","title":{"rendered":"OKX Expands to Australia, Enhances Local Services"},"content":{"rendered":"<p>The crypto exchange giant <strong>OKX<\/strong> has made a big move in its expansion into the <strong>Asia-Pacific region<\/strong> by transferring its Australian-focused services to a locally regulated entity. This step is the same as the one made 12 months ago by the firm, which was the expansion of its operations in Australia.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/okx-expands-to-australia-enhances-local-services\/#A_Year_in_the_Making\" title=\"A Year in the Making\">A Year in the Making<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/okx-expands-to-australia-enhances-local-services\/#Local_Entity_for_Local_Needs\" title=\"Local Entity for Local Needs\">Local Entity for Local Needs<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/coinengineer.net\/blog\/okx-expands-to-australia-enhances-local-services\/#Enhanced_Service_Offerings\" title=\"Enhanced Service Offerings\">Enhanced Service Offerings<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/coinengineer.net\/blog\/okx-expands-to-australia-enhances-local-services\/#Compliance_with_Local_Laws\" title=\"Compliance with Local Laws\">Compliance with Local Laws<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/coinengineer.net\/blog\/okx-expands-to-australia-enhances-local-services\/#Global_Presence_with_Local_Commitment\" title=\"Global Presence with Local Commitment\">Global Presence with Local Commitment<\/a><\/li><\/ul><\/nav><\/div>\n<h3><span class=\"ez-toc-section\" id=\"A_Year_in_the_Making\"><\/span>A Year in the Making<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>In March of 2017, <strong>OKX<\/strong> announced that it was going to establish an office in Australia, which was made possible by the<strong> &#8220;big appetite&#8221;<\/strong> for cryptocurrency and the fact that the country was seen as a &#8220;key growth market.&#8221; This choice was of a strategic nature, and it was made to take advantage of the growing demand for the services of cryptos in the region; thus, the company will create more individual and regulated services for Australian users.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Local_Entity_for_Local_Needs\"><\/span>Local Entity for Local Needs<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>On March 20, the services of <a href=\"https:\/\/coinengineer.net\/blog\/d8x-pioneers-perpetual-dex-on-okxs-x-layer-network\/\">OKX<\/a> for Australian customers were switched from the Seychelles-based firm to locally regulated entities. OKX Australia Pty Ltd goes on to the crypto exchange and fiat services, while OKX Australia Financial Pty Ltd handles the derivatives and margin products. This switch guarantees that the company is in accordance with Australian regulations and provides a more safe and efficient platform for its users.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Enhanced_Service_Offerings\"><\/span>Enhanced Service Offerings<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Jamie Kennedy, the General Manager of OKX Australia, stressed the significance of satisfying the local users&#8217; needs. \u201cAustralian crypto users should have a platform that is secure and friendly, and at the same time, their needs are promptly met, which include seamless access to the banking rails as well as the AUD pairs for the most popular cryptocurrencies,\u201d Kennedy said. Australian users will have the privilege to trade 170 crypto trading pairs, which will significantly increase their trading alternatives.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Compliance_with_Local_Laws\"><\/span>Compliance with Local Laws<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>In order to be in compliance with Australian regulations, OKX has introduced a suitability assessment to verify if the users are qualified to be wholesale clients under the Corporations Act 2001. Besides, the exchange has stopped providing services such as copy trading and yield-bearing products to meet the requirements of the local laws. Starting on March 20, unsupported tokens have been only available for withdrawal; thus, the users affected by these changes have had a smooth transition.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Global_Presence_with_Local_Commitment\"><\/span>Global Presence with Local Commitment<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>OKX\u2019s intention to enlarge its global presence while at the same time being compliant with local rules is a proof of its determination to offer personalized services in the most important markets. The exchange, which is now the third-largest in the world by volume after Bybit, had a trading volume of $2.8 billion in the last day, as per CoinGecko. This move to Australia is proof that OKX has realized the income of the country and is ready to serve the local crypto community.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The crypto exchange giant OKX has made a big move in its expansion into the Asia-Pacific region by transferring its Australian-focused services to a locally regulated entity. This step is the same as the one made 12 months ago by the firm, which was the expansion of its operations in Australia. A Year in the<\/p>\n","protected":false},"author":6,"featured_media":18051,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,1],"tags":[816],"class_list":["post-20394","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-genel","tag-okx"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>OKX Expands to Australia, Enhances Local Services - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Crypto exchange OKX expands to Australia, moving services to locally regulated entities. 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