OKX, a crypto exchange and Web3 company based in Seychelles, has announced its plans to expand its range of crypto services to Australia.
In a statement released on March 29, 2023, OKX revealed that it considers Australia a critical growth market and aims to establish a robust local office to serve it. The company has stated that it currently serves more than 100 countries worldwide and intends to expand its operations to more.
Haider Rafique, the Chief Marketing Officer at OKX, explained that their goal is to be the top cryptocurrency platform globally. He emphasized the significance of Australia in achieving this objective and its position as an important market for growth. Haider noted that the high adoption rate of cryptocurrencies in Australia further strengthens this viewpoint.
Australian Formula One driver and OKX Ambassador Daniel Ricciardo expressed his enthusiasm for OKX’s plans to open an office in his homeland. He highlighted that he had a wonderful time celebrating with the OKX team and the crypto community the day the announcement was made.
In Ricciardo’s words:
“The future looks bright for OKX in Australia.”
Scotty James, also an OKX Ambassador and an Australian Olympic snowboarder, remarked that the fact that OKX plans to establish an office in Australia is particularly thrilling since Australia is an exceptional location for crypto.
The crypto exchange is yet to complete the necessary registration with AUSTRAC, a mandatory requirement for offering cryptocurrency services in Australia. Also, OKX did not provide information about the potential location of their Australian office or the size of the team.
Meanwhile, OKX released its fifth Proof-of-Reserves (PoR) report this month. The report revealed that it currently holds a total of $8.9 billion worth of Bitcoin (BTC), Ethereum (ETH), and Tether (USDT). The report also showed that OKX maintains reserve ratios of 103% for both BTC and ETH, and 102% for USDT.
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