Cryptocurrency platform OKX expands into Australia's Self-Managed Superannuation Fund industry
OKX Expands into Australia's Retirement Market with New Platform for Self-Managed Super Funds
OKX, a global cryptocurrency exchange, has announced its expansion into Australia's retirement market, focusing on self-managed superannuation funds (SMSFs). The move comes as adoption of cryptocurrency by SMSFs in Australia has grown significantly, with over $1.7 billion (US$1.1 billion) invested as of 2022.
The development of the platform for SMSFs is supported by SCENEOKX, a technology company focused on blockchain and financial solutions. The new platform offers features such as custody, multi-signature security, and proof-of-reserves reporting for 22 tokens. It also includes infrastructure that addresses SMSF requirements, including end-of-year reporting for audits, compliance checks, and AUSTRAC-registered exchange services.
OKX claims the new expansion provides a straightforward path for both individual and corporate trustees to add cryptocurrency to their retirement portfolios. The company expects to see "thousands of SMSFs onboard in the next 12 to 24 months," with many of them switching from other exchanges.
SMSFs manage nearly a third of Australia's $4 trillion retirement pool, but remain heavily weighted toward shares, cash, and property. Crypto allocations in SMSFs were steady after a brief spike in early 2024, according to a recent report. Self-managed super funds held about A$3 billion (US$1.9 billion) in crypto at midyear, which is less than 0.3% of their assets and an even smaller share of the country's A$4.3 trillion pension system.
However, digital assets in SMSFs have seen a growth of 746% between March 2020 and March 2025, according to OKX's statement. This growth suggests a growing interest in cryptocurrency as a potential investment option for SMSFs.
Total SMSF assets grew only 5.5% in the year to June 2025, according to data from the Australian Prudential Regulation Authority. This slow growth may indicate a cautious approach to investment by SMSFs, with investors "missing the rally" by stepping back after the peak in early 2024.
The platform was developed in consultation with trustees and industry professionals to ensure it meets the needs of SMSFs and complies with Australian regulations. This focus on compliance and regulatory adherence is crucial for SMSFs, which are private retirement vehicles that allow individuals and small groups to manage their own savings directly.
OKX's expansion into Australia's retirement market represents a significant move for the company, and could potentially open up a new market for cryptocurrency investment in the country. As more SMSFs consider adding cryptocurrency to their portfolios, the new platform could provide a convenient and secure solution for trustees looking to invest in this growing asset class.
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