OKX Expands to the US, Opens Regional Headquarters in San Jose
OKX, a Seychelles-based cryptocurrency exchange, is expanding into the U.S. with a new headquarters in San Jose, California. The platform and its native OKX Wallet will now be available to U.S. crypto traders.
Key points from the announcement:
- CEO Roshan Robert emphasizes a commitment to responsible growth.
- Robert has experience from CLST and was a founding member of Hidden Road, recently acquired by Ripple for $1.25 billion.
- OKX is collaborating with U.S. regulators to ensure compliance, backed by a comprehensive global compliance program including KYC processes, fraud detection, and AML tools.
- Two months prior, an OKX subsidiary settled charges for operating without a money transmitting license, agreeing to pay over $500 million in penalties to the Department of Justice.
- OKX had previously prohibited U.S. users but allegedly sought customers in the U.S., including New York.
- Other crypto companies, like CoinList, are also returning to the U.S. market as regulatory climates improve.
- Existing customers of OKCoin, OKX's U.S.-accessible sister company, will transition to the OKX platform, which promises better liquidity and lower fees.