Crypto exchange OKX has officially relaunched its operations in the United States, offering American customers the ability to buy, sell, and convert popular cryptocurrencies like Bitcoin, Ethereum, USDT, and USDC. The company has taken significant steps to comply with regulatory standards following a $504 million legal settlement with the US Department of Justice. This includes implementing a robust compliance framework with full KYC procedures and enhanced fraud detection systems.
As part of its US expansion, OKX has established a new headquarters in San Jose, California, demonstrating its long-term commitment to the American market. The exchange views the US as a crucial part of its global strategy and plans to stay ahead of regulatory developments. The relaunch will involve a phased rollout that includes migrating current users to the new platform and gradually onboarding new users. A broader launch is scheduled for later this year, covering most US states.
To support its expansion in the US, OKX has introduced a self-custody Web3 wallet for American customers. The wallet offers support for over 130 blockchains and includes features for swapping tokens, bridging assets between networks, and exploring NFTs and decentralized applications. Roshan Robert, a former Barclays executive, has been appointed as the US Chief Executive Officer, bringing years of financial leadership experience to the role.
Robert emphasized the exchange’s commitment to a secure and compliant trading environment, highlighting the comprehensive global compliance program in place. This program includes enhanced due diligence, a robust KYC process, customer risk rating systems, advanced fraud detection, AML tools, geo-blocking, and market surveillance technologies. OKX aims to provide a secure and compliant platform for US customers to engage in crypto trading.
Overall, the relaunch of OKX in the US represents a significant milestone for the exchange as it strengthens its presence in the American market. With a focus on compliance, customer protection, and innovation, OKX aims to offer a seamless and secure trading experience for US customers. The introduction of the Web3 wallet and the appointment of Roshan Robert as US CEO demonstrate the exchange’s commitment to growth and success in the US market.
