In a significant development for Australian cryptocurrency traders, OKX crypto exchange has announced the introduction of major cryptocurrencies trading pairs against the Australian dollar (AUD). This move, unveiled on Monday, marks OKX as the largest global exchange to offer order book-based AUD pairs for spot trading in Australia.
The new AUD trading pairs will allow OKX users in Australia to trade a variety of cryptocurrencies, including Bitcoin (BTC), Ether (ETH), and prominent stablecoins such as Tether (USDT) and USD Coin (USDC) directly against the AUD. This addition is designed to provide Australian traders with more options and greater flexibility, aligning with the growing demand for localized trading solutions.
Jamie Kennedy, General Manager of OKX Australia, emphasized that the introduction of AUD pairs is a direct response to customer feedback. “We believe that offering local fiat trading capabilities is crucial to driving adoption and development of the local crypto ecosystem,” Kennedy stated. He further expressed OKX’s commitment to investing in and tailoring products to meet the needs of Australian users.
OKX, which officially launched in Australia in May, has been rapidly establishing its footprint in the region. The exchange set up its Australian office in Sydney last year and claims to be the largest global crypto exchange offering direct AUD deposits and withdrawals. This strategic expansion aims to enhance user experience by providing secure, easy-to-use, and responsive trading platforms.
Kennedy also noted the importance of seamless banking integrations and the provision of AUD trading pairs for the most popular cryptocurrencies. “Australian crypto users deserve a platform that meets their needs effectively,” he added.
In addition to its expansion in Australia, OKX has made notable strides in other regions. The exchange received in-principle approval for a payments license in Singapore in March and launched operations in Turkey earlier this year. OKX’s commitment to innovation and local market adaptation was recognized when it won the “WeMoney Cryptocurrency Awards 2024” for Crypto Exchange of the Year in Australia.“ These accolades reflect our pursuit of innovation and dedication to providing products that our local customers trust,” Kennedy said. He highlighted the exchange’s ongoing efforts to build upon this momentum by enhancing its suite of crypto products and actively participating in the development of the Australian crypto ecosystem.
OKX’s introduction of AUD trading pairs represents a significant enhancement to its offerings for Australian cryptocurrency traders. By catering to local demands and providing direct trading options in AUD, OKX strengthens its position as a leading global exchange and reinforces its commitment to supporting the growth of the crypto market in Australia. As the exchange continues to expand its services and innovate, Australian users can look forward to a more integrated and responsive trading experience.
August 2024, Cryptoniteuae