OKX Announces Plan to Establish Office in Australia

Seychelles-based crypto exchange OKX has announced its intention to open an office in Australia. The trading firm gave the announcement in a private event for Australia’s crypto community at the Melbourne Arts Centre.

The Chief Marketing Officer at OKX, Haider Rafique stated that the exchange sees Australia as an indispensable part of its strategy of becoming the world’s largest crypto exchange. Additionally, he said OKX intends to leverage Australia’s strong crypto adoption to build a vibrant local office.

“It is great to hear OKX announce it would create an office in Australia because that country is unique for cryptocurrency,” says Scotty James, Australian Olympic snowboarder, and OKX Ambassador.

It is not surprising that OKX would want to expand into Australia. This is because the use and adoption of crypto in Australia have been steadily increasing in recent years. 

Remarkably, the Australian government has also adopted a progressive approach to cryptocurrency regulation, acknowledging the potential benefits of these digital assets but also aiming to safeguard consumers and preserve financial stability.

OKX Committed to Blockchain

Crypto exchange OKX provides a platform for users to buy, sell, and trade cryptocurrencies. According to a recent Proof-of-Reserve published by the OKX, the firm has clean assets totaling $8.6 billion in Tether, Ethereum, and Bitcoin.

One of the ways that the exchange is committed to the industry is by investing in research and development of blockchain technology. The exchange established the OK Blockchain Foundation, which aims to support the advancement of blockchain technology and its applications in various industries.

Additionally, OKX announced in November that it would establish a $100 million market recovery fund to assist the industry that had clearly suffered as a result of the demise of the bankrupt FTX.

Notably, this announcement follows shortly after the trading platform received regulatory approval to operate a subsidiary market in the Bahamas.