OKX Launches Operations In The US, Plans For Nationwide Expansion
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OKX, one of the largest crypto exchanges in the world, just launched operations in the US earlier today, April 16. The move marks a massive milestone in OKX’s global expansion strategy, since it will introduce a centralized crypto trading platfom alongside the proprietary OKX Wallet to US customers.
The exchange also established a new regional headquarters in San Jose, California, which placed the company right at the heart of the American fintech and tech ecosystem.
The OKX US branch will be led by Roshan Robert, formerly of Hidden Road and CLST, who has now taken over as CEO. His job will be to oversee the platform’s phased customer onboarding and to focus heavily on compliance efforts to ensure that the platform is perfectly aligned with US laws and regulations.
OKX Is Opting For A Slow Launch To Ensure Regulatory Compliance
For the moment, in its early days, OKX US will be limited to only select user base, but the exchange is planning a full, nationwide rollout later in 2025. Robert said that OKX US’ entry was designed to offer a more sophisticated trading environment for the users, featuring top-tier infrastructure.
Furthermore, those who used the existing OKCoin platform until now will be migrated to OKX’s new platform, which will grant them access to deeper liquidity, a more advanced collection of trading tools, and even lower trading fees.
The company intends to combine its infrastructure with regulatory integrity and set a higher standard for future industry entrants in the country.
Another interesting detail is that OKX launched its US subsidiary only a few months after reaching settlement with the Department of Justice, which obligated the platform to pay $500 million. The agreement resolved concerns regarding its former operations, which were conducted without obtaining the necessary money transmitter license.
In response, OKX took proactive steps to improve its compliance program in the country, with the new framework including enhanced KYC and AML procedures, now embedded into the onboarding process. The exchange further increased transparency by providing regularly updated proof-of-reserves reports.
More importantly, its entry into the US signals a potential shift in the balance of power within the global crypto trading system now that America is growing more crypto friendly under the new administration.
