- OKX launched a new crypto wallet and platform for users in the United States.
- The company paid 500 million dollars to settle charges with the Department of Justice.
- OKX set up a regional headquarters in San Jose and named a new CEO for its U.S. operations.
OKX, a Seychelles-based crypto exchange, has launched a fresh push into the U.S. market. The company announced its U.S. relaunch alongside a new regional headquarters in San Jose, California. It also introduced the OKX Wallet for American crypto users.
This move signals a significant shift for the company. OKX now offers trading services and wallet access directly to U.S.-based customers. The expansion comes after months of regulatory hurdles and corporate restructuring.
New CEO Appointed to Lead U.S. Operations
Roshan Robert has been named CEO of the U.S. division. He brings experience from his time at CLST and Hidden Road. Ripple acquired Hidden Road for $1.25 billion earlier this year. Robert has overseen the relaunch strategy since joining OKX in September 2024.
He confirmed the company has prepared for this shift for over a year. OKX has invested in compliance systems, including KYC protocols, fraud detection, and geo-blocking tools.
Compliance Measures Follow Settlement With DOJ
The company’s U.S. relaunch follows a recent legal settlement. Two months ago, OKX’s international entity agreed to pay over $500 million to the Department of Justice. This resolved allegations of operating in the U.S. without a proper license.
Prosecutors said the exchange had failed to stop the U.S.-based users from accessing its global platform. The settlement included a guilty plea and a commitment to hire an external compliance consultant through 2027.
Despite the charges, no OKX employees faced individual prosecution. The agreement did not include a government monitor. OKX emphasized that there was no evidence of direct customer harm.
Market Environment Shifts Under New U.S. Administration
The expansion comes during a shift in U.S. crypto policy. The current administration has taken a less aggressive stance toward digital assets. This change has encouraged more firms to consider returning to the U.S. market.
CoinList, another crypto platform, also reentered the U.S. this month. Reports suggest Binance may soon follow. OKX’s reentry adds to this trend of renewed interest.
Migration Plan and Competitive Landscape
Existing OKCoin customers in the U.S. will be moved to the OKX platform. They will gain access to better liquidity, lower fees, and advanced tools. OKCoin served as OKX’s U.S.-compliant sister company until now.
OKX will now compete directly with major U.S. players like Coinbase and Kraken. However, it sees growth potential among younger users exploring digital assets. Hong Fang, previously head of OKCoin, remains involved in global operations.
