OKX attracts 10 thousand new users in a month

Crypto exchange OKX has achieved significant growth in user registrations in the Hong Kong market.

Since the introduction of Hong Kong’s new virtual asset service providers (VASPs) regime, OKX has seen a surge in user registrations, with over 10,000 new users signing up within just a month of launching its enhanced mobile app.

This surge in registrations highlights the immense potential of the retail crypto industry, which has been unlocked by favourable regulatory changes. Hong Kong openly acknowledges its aspirations to position itself as a hub for digital assets, and the overwhelming response to OKX’s enhanced app further solidifies this ambition.

Over the past 18 months, OKX has strategically invested in talent acquisition and infrastructure in anticipation of its license application under the VASPs regime in Hong Kong. In March 2023, OKX established its Hong Kong entity, OKX Hong Kong, with the aim of obtaining the VASP license and operating as a virtual asset trading platform in the city. Presently, the enhanced OKX app enables Hong Kong users to conveniently buy, sell, and hold 16 major digital assets.

“We’re very encouraged to see such a positive response to OKX Hong Kong. Our sign-up metrics demonstrate strong local interest and immense market potential in a regulated environment,” said Lennix Lai, the Global Chief Commercial Officer at OKX.

Lai also highlighted the high level of sophistication displayed by Hong Kong traders in selecting digital asset platforms. In the future, OKX aims to introduce a range of new products and experiences specifically tailored for local users while adhering to regulatory guidelines.