OKX reenters US market following $505M DOJ settlement

OKX, a Seychelles-based cryptocurrency exchange, is re-entering the US market. Former Barclays director Roshan Robert is the new US CEO, establishing a regional headquarters in San Jose, California. Existing Okcoin users will transition to the new platform, offering improved liquidity, lower fees, and advanced trading tools. A phased rollout is planned for new customers, with a nationwide launch expected later in 2025. The platform will integrate with local banks and support major cryptocurrencies like Bitcoin and Ether. Independent audits by Hacken ensure transparency and proof of reserves. OKX Wallet, supporting 130 blockchains and a DEX aggregator, will also be available to US customers. The re-entry follows a previous settlement of US regulatory issues, including a guilty plea and substantial fines. OKX aims to become a leader in global compliance. The company did not comment on this re-entry to the US market.