In this news:
International crypto exchange OKX is expanding its presence to the United States.
On Wednesday, the company launched its trading platform in 46 states and Washington, D.C. OKX also announced the appointment of a new U.S. CEO: Barclays and PricewaterhouseCoopers alumnus Roshan Robert. The crypto exchange also set up new headquarters in San Jose, Calif.
Further, OKX unveiled a new self-custody wallet that supports more than 130 blockchains and allows users to swap tokens, move assets across different chains, explore non-fungible tokens and access popular Web3 apps.
The push is part of a rebranding effort: The old Okcoin exchange, OKX's U.S. entity, will fold its brand and operate under the OKX name going forward. Existing users of the old platform will now have access to deeper liquidity, lower fees and advanced trading tools, Robert said.
OKX was established in China in 2013 and is now based in the Seychelles. It operates in more than 100 countries.
'A new alternative' in the U.S.
The news comes as the regulatory tides are shifting, with a pro-crypto U.S. government since President Donald Trump took the reins in January.
So far in 2025, the Securities and Exchange Commission has dropped several cases against crypto firms, including dismissing a civil enforcement action against Coinbase. The agency also said that most memecoins are not securities, paving the way for exchange operators to list more coins without the risk of regulatory enforcement. Further, the Department of Justice ended its National Cryptocurrency Enforcement Team.
Robert told CNBC the company is "well poised to take a leadership role" in the U.S. and spoke about the importance of customer choice and compliance.
"What we are bringing to the U.S. is a new alternative, where we give [them] more freedom to choose," he said. "We're doing this with a strong compliance and risk management architecture that we've built over the last year or so … We'll provide retail users with capabilities of fiat on ramps, low fees, deep liquidity … and we'll provide institutional customers with institutional rate compliance."
OKX is the world's fifth-ranked cryptocurrency spot exchange based on traffic, liquidity, trading volumes, and confidence in the legitimacy of reported trading volumes, according to CoinMarketCap. Binance, Bybit, Coinbase and South Korean Upbit rank higher.
Join us at the New York Stock Exchange!Uncertain markets? Gain an edge with CNBC Pro LIVE, an exclusive, inaugural event at the historic New York Stock Exchange.
In today's dynamic financial landscape, access to expert insights is paramount. As a CNBC Pro subscriber, we invite you to join us for our first exclusive, in-person CNBC Pro LIVE event at the iconic NYSE on Thursday, June 12.
Join interactive Pro clinics led by our Pros Carter Worth, Dan Niles and Dan Ives, with a special edition of Pro Talks with Tom Lee. You'll also get the opportunity to network with CNBC experts, talent and other Pro subscribers during an exciting cocktail hour on the legendary trading floor. Tickets are limited!
.png)
