David Edwards
Following a $505 million settlement with the U.S. Department of Justice (DOJ), the cryptocurrency exchange OKX, domiciled in Seychelles, has formally returned to the U.S. market with the goal of restoring its operations and image under stricter regulatory compliance.
Roshan Robert, a former director of Barclays, was named OKX’s new U.S. CEO in an official blog post on April 16. The news came at the same time as the OKX Wallet and a new centralized cryptocurrency exchange were unveiled, and a regional office was established in San Jose, California.
“Today, I’m thrilled to announce the launch of OKX’s centralized crypto exchange and OKX Wallet in the United States,” said Robert.
He underlined that current Okcoin users, who will be switched to the new platform, will enjoy a major improvement in user experience. Deeper market liquidity, reduced transaction costs, and sophisticated trading tools are among the advantages.
To guarantee a safe and easy onboarding experience, the U.S. relaunch is planned as a phased deployment. Later in 2025, a nationwide launch is planned, demonstrating OKX’s dedication to gradual growth.
OKX promised to integrate with regional banks and support popular cryptocurrencies like Bitcoin (BTC), Ether (ETH), USD Tether (USDT), and USD Coin (USDC) as part of its new U.S. offering. The cybersecurity firm Hacken, which has not yet made a public statement, confirmed the company’s monthly proof-of-reserves assessments.
The OKX Wallet is designed to support 130 blockchains and is now accessible to users in the United States. With its decentralized exchange (DEX) aggregator, users may access more than 10 million tokens from networks like Base, Solana, and Ethereum.
After a period of regulatory unrest, OKX has returned to the U.S. market. The exchange pleaded guilty to running an unregistered money-transmitting company in violation of U.S. anti-money laundering rules and reached a settlement with federal authorities earlier this year. OKX agreed to lose $421 million in income, mostly from institutional clients, and pay $84 million in penalties as part of the settlement, which was announced on February 24.
