- OKX announces its official entry into the US market, bringing its centralized exchange and OKX Wallet closer to American customers.
- Roshan Robert has been named OKX US CEO to oversee seamless customer migration in the new market.
- OKX promises security, transparency and regulatory compliance following a $500 million settlement with the DoJ.
Seychelles-based OKX cryptocurrency exchange announced on Wednesday that it is officially launching in the United States (US). The third leading spot exchange platform with a daily traded volume above $2.4 billion will establish a regional headquarters in San Jose, California, to spearhead the rollout of its platform and the native OKX Wallet.
OKX names Roshan Robert as US CEO amid expansion
OKX exchange has appointed Roshan Robert as CEO of the regional office in the US. Roshan said in a statement on Wednesday that he is looking to “broaden access to digital assets in a secure, transparent, and compliant way.”
The expansion brings the company’s services, including the centralized exchange platform and the OKX Wallet, closer to US customers. Existing OKCoin customers will be migrated to the main OKX platform, ensuring access to deeper liquidity, lower trading fees, advanced trading tools and an enhanced user experience.
The OKX Wallet supports more than 130 blockchains with up to five trading modes to suit all levels of customer experience and knowledge of the crypto market. A Decentralized Exchange (DEX) aggregator is included in the package, providing access to more than 10 million tokens on leading chains like Ethereum, Solana, Base and more. The wallet boasts an Artificial Intelligence (AI) powered Web3 navigation feature that helps users single out trending tokens by simplifying research.
“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,” Roshan added.
OKX new era of regulatory compliance
Roshan believes the expansion to the largest financial market in the world aligns with OKX’s vision of providing a reliable, open, and user-friendly platform designed for a wide range of users, from beginners to seasoned traders. He emphasized that the company aims to deliver a safe, clear, and inclusive trading experience that meets the needs of all customers.
The groundbreaking move comes two months after a subsidiary of OKX settled with the Department of Justice (DoJ), paying $500 million in penalties and forfeited fees for illegally operating in the US without a money transmitting license.
OKX stressed that it will continue championing security, transparency and regulatory compliance. The platform’s expansion to the US comes with more responsibility, as it assures customers that it is working with regulators and policymakers to foster a healthy crypto environment.
“We’ve built a comprehensive, risk-based global compliance program that includes enhanced due diligence, a robust KYC process, customer risk rating systems, advanced fraud detection, AML tools, geo-blocking, and market surveillance technologies,” the OKX statement read, adding “these are all part of our commitment to a secure, compliant trading environment.”
Since taking office in January, President Donald Trump’s administration has continuously worked to deregulate the cryptocurrency industry while paving the way for clear regulations that promote innovation and growth. Last week, the US Senate approved Trump’s nominee, Paul Atkins, as Chair of the Securities and Exchange Commission (SEC), who promised to develop a clear regulatory framework for the industry.
