Building a New Alternative for Australia’s Digital Asset Ecosystem
In Brief
Mark Oliver, Head of Sales at OKX Australia, highlights the rapid evolution of the Australian digital asset market, driven by institutional adoption, localized innovations, and the growing integration of digital assets as a new alternative in Australia’s financial ecosystem.
I was recently approached on LinkedIn by an old friend who I hadn’t spoken to in years. He’s what you’d call a proper old-school TradFi guy – spent most of his career as a sterling credit trader at major UK and US banks, and now manages several family offices.
When he reached out, I couldn’t help but joke, “Don’t tell me you’re going to ask me how to get some crypto exposure in your family office portfolios?”
“How did you guess?” he laughed.
“Everyone’s asking the same question these days!”
What really caught me off guard was his choice of investments. I’d assumed he’d start conservatively with BTC or ETH, maybe some stablecoins. Instead, they’d jumped straight into five different memecoins – PEPE, DOGE and SHIB among them – because they found them “fascinating.”
He ended up choosing our OKX platform. But beyond the platform choice, what struck me was what this conversation represented. Here was someone from the heart of TradFi – not just dipping a toe into digital assets but diving right in.
It’s a story I’m hearing more and more lately – traditional finance isn’t just watching from the sidelines anymore. They’re active participants, and they’re bringing their institutional mindset with them.
Here in Australia, the digital asset space is maturing in ways that seemed distant just a year ago. When I look at the data from our recent research with Economist Impact, the trajectory is clear: 69% of institutions plan to add digital assets to their portfolios within the next three years.
Market Maturity: More Than Just Numbers
But these aren’t just numbers on a page – we’re seeing this shift play out in real time across the Australian digital asset market. Australian wholesale clients, once cautious observers, are now actively exploring trading strategies, from simple leveraged trading on token pairs to more complex options such as protective puts to yield-generating covered calls.
Our growth further reflects this momentum. Since our launch of crypto exchange services in Australia last May (offering spot (buy & sell) trading for all users, plus derivatives trading for verified wholesale clients* in the country), we’ve seen our customer base triple and our local team expand by 150% – bringing on specialists who understand the local market and both retail and institutional needs.
When we entered the Australian market, we knew we needed to do things differently. Instead of importing an international product, we chose to localise our platform from the ground up based on close personal feedback with actual traders in the community. Today, we’re proud to be the largest global crypto exchange offering direct AUD deposits and withdrawals through major Australian banks.
What I find particularly fascinating about the Australian digital asset market is how uniquely local our trading patterns are. In November, we achieved near “listing parity” with the global platform for tokens listed by regularly listing “catch up tokens” from May through October. This means our customers can quickly access their favourite and most anticipated tokens, enhancing their trading experience. It’s also a reminder that every market has its own character. And speaking of character – the ASX’s ongoing blockchain initiatives have sparked interesting conversations with our institutional clients about the future of market infrastructure.
Building Trust Through Transparency
After the events of 2022, our industry had to rebuild trust from the ground up. That’s why we’ve published Proof of Reserves (PoR) reports every month for 26 consecutive months – cryptographic, mathematically verifiable proof that shows our clients’ assets are backed 1:1. When I talk to traditional finance folks, they’re often surprised by this level of transparency. Imagine if you could peek into the balance sheet of listed companies in Australia at any given moment, night or day – that’s the level of transparency we’re striving for.
Taking Digital Assets to the Streets
Last month, we wanted to help Australians visualize digital assets alongside traditional investments. We launched live crypto price billboards showing Bitcoin and Ethereum prices next to Sydney’s median house prices across many premium locations. By putting these numbers side by side, we’re helping people contextualise digital assets as part of the broader investment landscape. It’s been fascinating watching people stop in their tracks, comparing these numbers in real-time.
Growing Community, Growing Market
And speaking of real-world impact, what we saw at last November’s Australian Crypto Convention really highlighted how the digital asset community here is evolving. While 10,000 people explored the main event at ICC Sydney, our Ordinals World Tour meetup with Ordzaar brought together a passionate group of Bitcoin builders, artists and creators. It’s these kinds of gatherings that show me how our tight-knit crypto family has grown organically over a short period of time.
A New Alternative for Institutional Players
Our third-party custody partnerships with established global players like Komainu and Standard Chartered will be game-changers for the Australian market. These relationships will allow institutional clients to trade on our platform while keeping their assets with regulated third-party custodians – exactly the kind of setup that sophisticated investors expect.
What stands out to me is just how sophisticated the digital asset space has become. Gone are the days when digital asset prices were primarily driven by retail leverage. Today, we’re seeing Australian institutional investors employ sophisticated risk management strategies and participate in institutional-grade price discovery mechanisms. This evolution has been particularly evident in how local fund managers approach position sizing and portfolio construction.
The market’s response to broader economic signals has been telling. As the Australian digital asset market evolves, while Trump’s pro-crypto stance and potential policy shifts in 2025 have influenced market sentiment, we’re seeing institutional clients focus more on fundamentals. The projected $10 trillion in tokenized assets by 2030 remains a powerful indicator of the sector’s potential. Even as markets digest near-term macro uncertainties, digital assets are emerging as a new alternative for portfolio diversification.
Looking Ahead: The Next Chapter
Looking ahead, several key trends are emerging from our conversations with wholesale clients. There’s genuine curiosity about tokenized securities, real interest in blockchain settlement and a growing appetite for sophisticated trading tools. While market volatility persists amid macro-economic and geopolitical uncertainty, these fundamental developments suggest a maturing ecosystem.
Reflecting on this shift, it’s clear that the TradFi world is becoming more receptive; there’s a growing eagerness to engage with digital assets, much like my friend’s unexpected memecoin strategy.
That’s what drives us – making digital assets not just accessible, but a new alternative for Australia’s financial future. While market cycles will come and go, the transformation of our financial infrastructure continues, and we’re proud to be leading it.
*Derivatives and margin related products and services will be provided to verified wholesale clients only by OKX Australia Financial Pty Ltd, provided that they pass a suitability assessment and meet the definition of a wholesale client as set out in the Corporations Act 2001 (Cth)
Disclaimer
Information about: digital currency exchange services is prepared by OKX Australia Pty Ltd (ABN 22 636 269 040); derivatives and margin by OKX Australia Financial Pty Ltd (ABN 14 145 724 509, AFSL 379035) and is only intended for wholesale clients (within the meaning of the Corporations Act 2001 (Cth)); and other products and services by the relevant OKX entities which offer them (see Terms of Service – Australia). Information is general in nature and should not be taken as investment advice, personal recommendation or an offer of (or solicitation to) buy any crypto or related products. You should do your own research and obtain professional advice, including to ensure you understand the risks associated with these products, before you make a decision about them. Past performance is not indicative of future performance – never risk more than you are prepared to lose. Read OKX’s Terms of Service – Australia for more information.
Disclaimer
In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.
About The Author
Mark Oliver currently serves as Head of Sales at OKX Australia, where he leads the company's growth initiatives in the digital asset space. Mark is a financial markets expert with a passion for empowering clients to make informed investment decisions. With extensive experience managing portfolios, leading high-performing teams, and building trusted relationships, Mark excels in delivering personalised solutions that align with clients' financial goals. His expertise in launching products, negotiating deals, and executing specialised trades is complemented by his exceptional communication and problem-solving skills, ensuring outstanding outcomes for all stakeholders.
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Mark Oliver currently serves as Head of Sales at OKX Australia, where he leads the company's growth initiatives in the digital asset space. Mark is a financial markets expert with a passion for empowering clients to make informed investment decisions. With extensive experience managing portfolios, leading high-performing teams, and building trusted relationships, Mark excels in delivering personalised solutions that align with clients' financial goals. His expertise in launching products, negotiating deals, and executing specialised trades is complemented by his exceptional communication and problem-solving skills, ensuring outstanding outcomes for all stakeholders.
