OKX, a crypto exchange which is based in Seychelles, has indicated its planning to expand its crypto services to Australia. The Exchange believes that Australia will be a leader in the next wave of cryptocurrency adoption.

The trading platform said in a statement on March 29 that Australia would be a significant market for future expansion. There are over 100 countries in which the firm provides services, according to the firm. AUSTRAC OKX expanded its operations to Malta in August of 2018, and in July 2018, it received a preliminary license in Dubai.

As per the chief marketing officer of OKX, Haider Rafique, Australians are more crypto-savvy compared to the rest of the world. This will make it easier for OKX to break into the market. According to a poll conducted in September by Australian cryptocurrency exchange Swyftx, 4 percent of the country's population, or approximately 1 million people, plan to invest in cryptocurrency for the first time in the next 12 months. Rafique also praised the Australian cryptocurrency startup community.

The trading firm has not yet registered with AUSTRAC, Australia's licensing regime for cryptocurrency services. OKX was not yet in a position to reveal details about the Australian office, such as its probable location or the size of its staff.

OKX has about 1,750 employees at the present time. Rafique acknowledged that OKX is in the process of seeking a VASP registration in Hong Kong. OKX just announced plans to terminate its services to Canadians in June, thus the expansion into Australia and Hong Kong is somewhat surprising.