OKX to Expand to the US, Establish Regional HQ in California

Seychelles-based cryptocurrency exchange OKX is expanding to the U.S., establishing a new regional headquarters in San Jose, California and rolling out access to its platform and its native OKX Wallet to U.S.-based crypto traders.
In a Tuesday evening announcement, newly-appointed CEO Roshan Robert said the expansion was “a commitment to responsible growth.” Robert was most recently an executive at institutional crypto lending platform CLST, and was a founding team member of crypto prime broker Hidden Road, which was recently acquired by Ripple for $1.25 billion.
“As regulations evolve, OKX is working closely with US regulators and policymakers to ensure we operate transparently and compliantly,” Robert wrote. “We’ve built a comprehensive, risk-based global compliance program that includes enhanced due diligence, a robust KYC process, customer risk rating systems, advanced fraud detection, AML tools, geo-blocking, and market surveillance technologies. These are all part of our commitment to a secure, compliant trading environment.”
Two months ago, a subsidiary of OKX settled charges that it had operated in the U.S. without a money transmitting license, agreeing to pay the Department of Justice (DOJ) over $500 million in penalties and forfeited fees. The DOJ alleged that, despite having an official policy prohibiting U.S.-based users from accessing its platform, OKX “sought out customers in the United States, including in the Southern District of New York.”