OKX Crypto Exchange Resumes Operations in the U.S. After $500 Million Settlement
Following a $500 million settlement with the Department of Justice earlier this year, OKX crypto exchange has officially resumed operations in the U.S. The relaunch was announced via press release on Apr. 15, introducing a self-custody web3 wallet, a new centralized exchange platform, and the appointment of Roshan Robert as the new U.S. CEO.
Enhanced User Experience
OKX customers in the U.S. can now access the platform’s trading tools, low fees, and deep liquidity. Existing users on its previous U.S. platform, OKcoin, will be migrated to the new OKX platform, while new users will gradually gain access before a full rollout later this year.
Expansion in the U.S.
As part of its U.S. expansion, OKX has established a new regional headquarters in San Jose, California. This move aims to strengthen the company’s compliance and regulatory engagement efforts while positioning it closer to key talent and tech innovation hubs.
New Leadership and Compliance Focus
Roshan Robert, the newly appointed U.S. CEO, brings a wealth of experience in capital markets and regulation. He shared that OKX began discussions with authorities in mid-2024, laying the groundwork for its compliance infrastructure well before the recent settlement.
“With the US advancing crypto regulatory clarity, we see tremendous opportunities to build trust and deliver secure, compliant digital asset solutions. I’m excited to lead OKX’s efforts in the US and bring our customers a flexible, high-performance crypto experience.”
— Roshan Robert, OKX U.S. CEO
Introducing a New Wallet
In addition to the exchange platform, OKX is launching a new wallet for U.S. users. This web3 wallet allows users to securely store their crypto assets and supports over 130 blockchains. The wallet features tools for trading, cross-chain asset transfers, NFT exploration, and access to web3 decentralized applications. An AI-powered feature helps users discover trending tokens and projects.
Transparency and Compliance
To ensure transparency, OKX will provide monthly proof-of-reserves reports verified by the blockchain security firm Hacken. This initiative allows users to verify that their funds are securely held on the platform. The company has implemented a comprehensive compliance framework, including KYC checks, fraud detection measures, and other controls, to meet U.S. regulatory standards.
The U.S. relaunch marks a significant milestone for OKX, signaling its commitment to regulatory compliance and providing a secure and compliant digital asset trading experience for U.S. customers.