Published May 18, 20242 min read

The Launch of OKX in Australia: Revolutionizing Cryptocurrency Trading and Decentralized Finance

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artwork image for: OKX Introduces Australia to the Era of Cryptocurrencies: New Horizons for the Global Financial Ecosystem

In today's news article, Coinmooner is excited to share great news about the expansion of the Web3 world to a new region - Australia. On Tuesday, the leading cryptocurrency exchange, OKX, announced the launch of its operations in this country, where the trading volume amounted to $2,736,536,248.01 in 24 hours. This move will allow all users to conduct transactions in the local market and trade derivatives for verified wholesale clients in the region.

This launch follows the exchange's subsidiary obtaining principal approval to obtain a payment license to operate in Singapore several months ago and the launch of operations in Turkey in February. OKX's Australian launch aims to provide a reliable, law-abiding, and transparent path to cryptocurrency trading and decentralized finance (DeFi).

In the local market, users can access 170 cryptocurrency pairs and 85 tokens, including Bitcoin, Ethereum, Solana, and Tether. The Australian branch of OKX plans to add even more tokens in the coming months.


Australia Crypto-Ready: Preparing for the Future with Bitcoin ETFs and Surging Crypto Ownership

Coinmooner has been digging up even more exciting details about this significant and vital event for the Web3 industry market. One of the critical reasons OKX and many other exchanges are paying attention to this small but vital continent is its population hungry for cryptocurrency. According to research conducted by the Koinly team, which includes crypto investors, engineers, and visionaries, as of July 2023, 31.6% of Australians owned or owned cryptocurrency. It's also worth noting that the proportion of cryptocurrency owners in Australia has been steadily increasing since 2019, meaning that one in every four adults owns some form of cryptocurrency.

ASX, the country's market operator, is set to make a groundbreaking move by approving the first-ever Bitcoin exchange-traded funds (ETFs) by the end of 2024. This development could lead to a substantial increase in investment opportunities in Bitcoin among Australian users. The approval of Bitcoin ETFs could herald a new era for the cryptocurrency market in Australia, with far-reaching implications for its future development.

The emergence of major cryptocurrency exchanges like OKX in new markets strengthens the legitimacy and recognition of the cryptocurrency industry as a severe financial market segment. Coinmooner will closely monitor this news and strive to let you know as soon as possible. Additionally, applying advanced security methods in the Web3 sphere is essential to maximize protection against fraudulent activities and cyberattacks.

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