OKX seeks Australian growth citing ‘enormous urge for food’ for crypto

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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 marketplace for the agency transferring ahead. The agency states it gives providers to over 100 international locations. In July 2022, 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 firm wrote in a statement.

Haider Rafique, the chief advertising officer of OKX advised Cointelegraph that the choice to broaden “Down Under” was pushed by a “huge appetite” of Australians 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 when it comes to crypto training, 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 mentioned, including:

“I think the value creation we can do for Australians will ultimately lift all boats.”

OKX Ambassadors Daniel Ricciardo and Scotty James with OKX CMO Haider Rafique on the Q&A session held in Melbourne on March 30. Supply: OKX

A September 2022 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 mentioned he was additionally impressed with Australia’s crypto startup scene.

It’s understood 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 probably be situated or how giant the staff can be. OKX presently employs over 1,750 workers, in keeping with LinkedIn.

Associated: OKX newest proof of reserves reveals $8.9B in belongings

OKX is within the strategy of making use of for a Digital Asset Service Supplier (VASP) license in Hong Kong too, Rafique confirmed.

The growth plan into Australia and Hong Kong comes as OKX not too long ago introduced plans to stop its providers to Canadians in June.

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