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Seychelles-based crypto trade OKX has signaled its intention to broaden its crypto providers to Australia, a rustic it believes is primed to tackle the subsequent wave of crypto adoption.
The buying and selling platform defined in a March 29 assertion that Australia can be a key development market for the agency shifting ahead. The agency states it gives providers to over 100 international locations. In August 2018, OKXexpanded its operations into Malta, and final July, it secured a provisional license in Dubai.
“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,” the agency wrote in a press release.
BIG NEWS
Super excited to announce that OKX will likely be opening an workplace in Australia!
We had an superior time celebrating in Melbourne with OKX companions @danielricciardo, @scottyjames31, and McLaren F1 driver @oscarpiastri.
Find out extra https://t.co/Sg3rGvSjhD pic.twitter.com/FpmSOhLvXt
— OKX (@okx) March 29, 2023
Haider Rafique, the chief advertising officer of OKX, advised Cointelegraph that the choice to broaden “Down Under” was pushed by Australians’ “huge appetite” for extra crypto funding and buying and selling merchandise:
“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 believes Australians are above the curve by way of crypto schooling, which he hopes will make OKX’s transfer into the market all of the extra clean.
“They’re pretty familiar with crypto, the value of blockchain, the promise that it holds in the future, and I think from us as a company, it makes it really intriguing for us to extend our services in this market,” he stated, including:
“I think the value creation we can do for Australians will ultimately lift all boats.”
A September survey from Australian crypto trade Swyftx discovered that about 1 million Aussies are anticipated to enter into crypto for the primary time throughout the subsequent 12 months, which represents about 4% of the nation’s inhabitants.
Rafique stated he was additionally impressed with Australia’s crypto startup scene.
Celebrations in Melbourne are in full swing as #OKX introduced opening our workplace in Australia!
Big s/o to OKX companions @danielricciardo, @scottyjames31, @oscarpiastri, our staff & frens for becoming a member of the enjoyable pic.twitter.com/m9rvVOmwYq
— OKX (@okx) March 29, 2023
It is known that the buying and selling agency has not but registered with AUSTRAC, the licensing regime required to supply cryptocurrency providers in Australia.
OKX was not ready but to share the place the Australian workplace would doubtlessly be positioned or how giant the staff can be. OKX presently employs over 1,750 employees, in accordance with LinkedIn.
Related: OKX newest proof of reserves reveals $8.9B in belongings
OKX is within the means of making use of for a Virtual Asset Service Provider (VASP) license in Hong Kong too, Rafique confirmed.
The growth plan into Australia and Hong Kong comes as OKX just lately introduced plans to stop its providers to Canadians in June.
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