Seychelles-based cryptocurrency exchange OKX is officially reentering the US market, the company announced in an April 16 blog post. The comeback is accompanied by the appointment of Roshan Robert, a former Barclays director, as CEO of OKX US.
“Today, I’m thrilled to announce the launch of OKX’s centralised crypto exchange and OKX Wallet in the United States, alongside the establishment of our regional headquarters in San Jose, California,” Robert stated.
Okcoin Users Migrating to New Platform
OKX will absorb users from its sister platform, Okcoin, transitioning them to the new exchange for an enhanced experience. According to Robert, users can expect deeper liquidity, lower fees, and advanced trading tools as part of the migration.
Rather than launching nationwide immediately, OKX is opting for a phased rollout. New customers will be onboarded gradually, with a full-scale launch planned for later in 2025.
To bolster user confidence, OKX is emphasising transparency and compliance. The exchange continues publishing monthly proof-of-reserves reports, validated by cybersecurity firm Hacken.
Hacken’s compliance services lead, Dmytro Yasmanovych, explained that their team goes beyond standard verification: “We reconstruct and verify OKX’s zk-STARK circuit using official tools and review 21,000 individual user proof files. We also confirm wallet control through signature checks.”
The updated US platform will support major crypto assets such as Bitcoin (BTC), Ether (ETH), USDT, and USDC. OKX also promised upcoming integrations with local US banks, signalling its intent to cater to both retail and institutional users.
OKX Wallet Launches in the US
Alongside its centralised exchange, OKX is launching the OKX Wallet for US customers. The wallet supports over 130 blockchains and integrates a DEX aggregator, giving users access to more than 10 million tokens across ecosystems like Ethereum, Solana, and Base.
Regulatory Woes and Compliance Commitments
OKX’s US relaunch follows legal trouble earlier this year. In February, the exchange admitted to operating an unlicensed money-transmitting business and violating US anti-money laundering laws. The firm agreed to pay $505 million in penalties and forfeitures.
In response, OKX hired former New York Governor Andrew Cuomo as an advisor and pledged to overhaul its compliance operations. CEO Star Xu stated, X: “Our vision is to make OKX the gold standard of global compliance at scale across different markets and their respective regulatory bodies.”
