Source: Cointelegraph Original: "{title}"
The Seychelles-based cryptocurrency exchange OKX has announced its return to the U.S. market.
According to a blog post on April 16, OKX will appoint former Barclays Bank director Roshan Robert as its CEO for the U.S. region. Robert stated in the article:
“Today, I am pleased to announce the launch of the OKX centralized cryptocurrency exchange and OKX wallet in the U.S., while establishing a regional headquarters in San Jose, California.”
All existing Okcoin users will migrate to the new platform, and Robert stated that this will provide a better overall experience. Promised improvements include deeper liquidity, lower fees, and advanced trading tools.
Source: OKX
OKX will not complete the upgrade all at once. Instead, the new platform will adopt a phased approach to onboard new customers. The exchange plans to proceed cautiously, with a nationwide launch expected later in 2025.
“We are starting with a phased rollout for new customers to ensure a smooth and secure registration process, with plans for a broader nationwide launch later this year,” Robert stated.
OKX has also committed to integrating with local banks and supporting major assets, including Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and USDC. Robert noted that the company maintains global proof of reserves for all its assets, published monthly by cybersecurity firm Hacken.
As of the time of publication, Hacken had not responded to Cointelegraph's request for comment.
In addition to the trading platform, the company is also launching the OKX wallet for U.S. users. The wallet supports 130 blockchains and features a decentralized exchange (DEX) aggregator that can access over 10 million tokens across platforms like Ethereum, Solana, and Base.
Previously, OKX hired former New York Governor Andrew Cuomo to provide advice on a federal investigation that ultimately led the company to acknowledge multiple violations and agree to pay a $505 million fine.
The exchange admitted on February 24 to violating U.S. anti-money laundering laws by operating an unlicensed money transmission business. As a result, OKX agreed to pay an $84 million fine and forfeit $421 million in fees earned from major institutional clients.
Following the conclusion of the investigation, OKX stated it would seek compliance advisors to address the issues revealed by the federal investigation and improve its compliance efforts. OKX CEO Star Xu wrote in a post on the X platform on February 24:
“Our vision is to make OKX the gold standard for global compliance, setting a benchmark across various markets and their respective regulators.”
As of the time of publication, OKX had not responded to Cointelegraph's request for comment.
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