OKX Launches Centralized Crypto Exchange, Wallet in the US

Global cryptocurrency exchange OKX today announced its official launch in the United States, introducing its centralized crypto exchange and OKX Wallet to American customers, according to a statement on Wednesday.

The launch marks a significant step for OKX, which has established its regional headquarters in San Jose, California. Initially, the platform will offer US users the ability to buy, sell, and convert major cryptocurrencies including Bitcoin, Ethereum, USDT, and USDC. OKX also promises seamless integration with local bank accounts to bridge traditional finance and crypto, OKX said.

Roshan Robert, the newly appointed US CEO of OKX, expressed his enthusiasm for the launch: "Over the past decade, I’ve had the opportunity to lead and contribute to initiatives that deepened my appreciation for the transformative potential of blockchain technology."

As part of this expansion, existing OKCoin customers will be migrated to the OKX platform, gaining access to deeper liquidity, lower fees, and advanced trading tools. The rollout for new customers will be phased to ensure a smooth and secure onboarding process, with a broader nationwide launch planned later this year.

OKX is also introducing its Web3 gateway, the OKX Wallet, to US users. This wallet supports over 130 blockchains and offers various trading modes catering to different experience levels. It includes a DEX aggregator with access to over 10 million tokens across multiple networks, as well as AI-powered Web3 navigation tools. The wallet also features built-in support for advanced swapping, bridging, and access to decentralized applications (dApps) across DeFi, NFTs, gaming, and social platforms.

The company emphasized its commitment to security and transparency, highlighting its global proof of reserves for all assets and monthly, independently verified reports. OKX also stated its focus on verifying on-chain activities and supporting third-party compliance.

This entry into the US market follows OKX's $500 million settlement with the Department of Justice (DOJ) in February. The DOJ had revealed that OKX actively sought US customers despite lacking the required license, facilitating over $5 billion in "suspicious transactions and criminal proceeds." OKX stated at the time that the number of US customers involved was a small percentage of its global base and that they are no longer on the platform.

OKX stated that its US expansion is a commitment to responsible growth, working closely with US regulators and policymakers to ensure compliance. The company said it has implemented a comprehensive global compliance program, including enhanced KYC, customer risk rating systems, advanced fraud detection, and AML tools.