OKX Expands to U.S. with New HQ in San Jose, California

OKX, a Seychelles-based cryptocurrency exchange, has announced its expansion into the United States. The company will establish a new regional headquarters in San Jose, California, and will provide access to its platform and native OKX Wallet to crypto traders based in the U.S.

In a statement released on Tuesday evening, the newly appointed CEO of OKX, Roshan Robert, emphasized that this expansion is a commitment to responsible growth. Robert, who previously served as an executive at institutional crypto lending platform CLST and was a founding team member of crypto prime broker Hidden Road, highlighted the company's dedication to operating transparently and compliantly within the evolving regulatory landscape.

OKX has been working closely with U.S. regulators and policymakers to ensure compliance with local laws. The company has implemented a comprehensive, risk-based global compliance program that includes enhanced due diligence, a robust Know Your Customer (KYC) process, customer risk rating systems, advanced fraud detection, Anti-Money Laundering (AML) tools, geo-blocking, and market surveillance technologies. These measures are part of OKX's commitment to providing a secure and compliant trading environment.

Two months prior to this announcement, a subsidiary of OKX settled charges with the Department of Justice (DOJ) for operating in the U.S. without a money transmitting license. The DOJ alleged that despite having an official policy prohibiting U.S.-based users from accessing its platform, OKX actively sought out customers in the United States, including in the Southern District of New York. The settlement involved paying over $500 million in penalties and forfeited fees.

OKX's expansion into the U.S. follows a trend of other crypto companies eyeing opportunities in the region. The U.S. has become increasingly friendly to the crypto industry under the administration of President Donald Trump. Earlier this month, token launch platform CoinList announced its return to the U.S. after a five-year absence, and larger players, including Binance, the world's largest crypto exchange, are reportedly considering a return to the U.S. market.

Existing customers of OKCoin, the U.S.-accessible sister company of OKX, will be seamlessly migrated to the OKX platform. The new platform will offer customers deeper liquidity, lower fees, and advanced trading tools, according to the company's launch announcement. This move is expected to enhance the trading experience for U.S.-based crypto traders and solidify OKX's presence in the American market.