OKX Expands US Operations, Opens New Regional Headquarters in California
In February, a Seychelles-based crypto exchange paid the Justice Department $500 million in fines for operating in the U.S. without a money transmitter license.
Author: Cheyenne Ligon | Edited by: Parikshit Mishra Updated: Apr 16, 2025 10:11 PM Published: Apr 16, 2025 2:55 AM
What you should know:
- OKX is expanding its cryptocurrency exchange services in the US and opening a new headquarters in San Jose, California.
- OKX recently paid the Department of Justice over $500 million for operating without a money transmitter license in the US.
Seychelles-based crypto exchange OKX is expanding its presence in the US, opening a new regional headquarters in San Jose, California.
The platform will provide access to its services and its own OKX wallet to crypto traders in the US.
In a statement Tuesday evening, new U.S. CEO Roshan Robert said the expansion represents a “commitment to responsible growth.” Robert was previously the head of institutional crypto lending platform CLST and a co-founder of crypto broker Hidden Road, which was recently acquired by Ripple for $1.25 billion.
“In light of regulatory changes, OKX is actively collaborating with U.S. regulators and policymakers to ensure transparency and compliance,” Robert wrote. “We have developed a comprehensive, risk-based global compliance program that includes in-depth due diligence, a robust KYC process, customer risk assessment systems, advanced fraud detection, AML tools, geo-blocking, and market surveillance technologies. All of this underscores our commitment to creating a safe and compliant trading environment.”
Two months ago, a subsidiary of OKX settled allegations of illegal activity in the US, agreeing to pay the Department of Justice (DOJ) more than $500 million in fines and withheld fees.
The US Department of Justice noted that despite official policy prohibiting US users from accessing the platform, OKX “actively sought customers in the United States, including the Southern District of New York.”
Read more: Are Rival Exchanges at Risk of Breaking US Rules After Binance's $4.3B Lesson?
OKX is not the first crypto company to seek expansion or return to the U.S., which has become significantly more favorable to the crypto industry during Donald Trump’s presidency. Earlier this month, token launch platform CoinList announced its return to the U.S. after a five-year hiatus, and major players like Binance, the world’s largest crypto exchange, are also considering a return to the U.S. market.
Existing customers of OKCoin, a subsidiary of OKX that operates in the US, will be “seamlessly migrated” to the OKX platform, which will offer users “deep liquidity, low fees and advanced trading tools,” according to the company’s launch announcement.
