Key Insights
-
OKX is reentering the U.S. crypto market with a phased rollout of its exchange and wallet services, appointing former Barclays director Roshan Robert as U.S. CEO.
-
The platform will migrate existing Okcoin users, offering deeper liquidity, lower fees, and advanced tools, while integrating local banking and supporting major cryptocurrencies.
SAN JOSE, California (MarketsXplora) – Cryptocurrency exchange OKX announced on Tuesday its return to the United States market, unveiling a phased rollout of its services alongside the appointment of a new U.S. chief executive officer and the establishment of a regional headquarters in San Jose, California.
The Seychelles-based company named former Barclays director Roshan Robert as CEO of its U.S. operations. In a company blog post, Robert outlined OKX’s renewed American strategy, including the launch of a centralized crypto exchange and the introduction of OKX Wallet for U.S. customers.
“Today, I’m thrilled to announce the launch of OKX’s centralized crypto exchange and OKX Wallet in the United States, alongside the establishment of our regional headquarters in San Jose, California,” Robert said.
As part of the transition, all current Okcoin users will be migrated to the new OKX platform. The company stated that the revamped exchange will offer improved trading conditions, citing deeper liquidity, lower fees, and enhanced trading tools as part of its user experience upgrade.
OKX Eyes 2025 Nationwide Rollout
OKX emphasized that the U.S. launch would proceed gradually. The exchange is taking a cautious, phased approach to onboarding new customers, with a full nationwide rollout targeted for later in 2025.
“We’re beginning with a phased rollout for new customers to ensure a smooth and secure onboarding process, with a broader nationwide launch planned later this year,” Robert said.
The platform will support major digital assets, including Bitcoin (BTC), Ether (ETH), Tether (USDT), and USD Coin (USDC), and will integrate with local banking infrastructure to facilitate fiat access.
To address regulatory scrutiny and ensure transparency, OKX will continue publishing monthly proof-of-reserves reports. These are verified by cybersecurity firm Hacken, which performs in-depth validation of OKX’s liabilities and asset control. Hacken’s compliance services lead, Dmytro Yasmanovych, said the team reconstructs and verifies the exchange’s zk-STARK cryptographic proofs and independently reviews 21,000 user proof files.
OKX Wallet, which supports 130 blockchains, will also be available to U.S. customers. The wallet includes a decentralized exchange (DEX) aggregator, providing access to over 10 million tokens on platforms such as Ethereum, Solana, and Base.
OKX Launches U.S. Comeback After $505 Mln Settlement
The return to the U.S. comes after a high-profile legal settlement earlier this year. On February 24, OKX admitted to operating an unlicensed money-transmitting business in violation of U.S. anti-money laundering laws. The firm agreed to pay $84 million in penalties and forfeited $421 million in revenue derived primarily from institutional clients—totaling $505 million in fines and forfeitures.
Former New York Governor Andrew Cuomo was brought on as an advisor during the investigation, which concluded with OKX pledging to overhaul its compliance framework. CEO Star Xu emphasized the company’s intent to set a new industry benchmark for regulatory adherence.
“Our vision is to make OKX the gold standard of global compliance at scale across different markets and their respective regulatory bodies,” Xu said in a February 24 post on X, formerly Twitter.
An OKX spokesperson reiterated the company’s renewed focus on compliance as it attempts to re-establish itself in the U.S. crypto market. The firm aims to differentiate with competitive trading conditions, robust fiat onramps, and a commitment to transparent operations.