Crypto giant unveils trading platform and Web3 wallet in San Jose, names new U.S. CEO to spearhead regulatory engagement
Crypto exchange OKX is pushing forward with its expansion into the United States, announcing the launch of a centralized trading platform and a self-custody Web3 wallet — just weeks after agreeing to a $504 million settlement with U.S. authorities.
In a statement issued Tuesday, the Seychelles-based company revealed its newly appointed U.S. Chief Executive, Roshan Robert, and confirmed the opening of its new American headquarters in San Jose, California, placing it strategically within Silicon Valley.
In February, OKX admitted to violating U.S. laws by processing over $1 trillion in transactions for American users without the proper licensing. The company pled guilty and agreed to pay more than half a billion dollars in penalties as part of its settlement with the U.S. Department of Justice.
Despite this legal blow, the firm remains optimistic about its American prospects. “The US is a key part of OKX’S global growth strategy,” said Hong Fang, Global President of OKX.
Founded in 2017, OKX has built a vast presence across global markets, including Europe, Asia, and the Middle East. The platform currently offers trading in more than 300 cryptocurrencies, including industry giants Bitcoin and Ether, through its centralized exchange. In July 2024, the company reported that 53 million wallets had been created via its separate wallet service, which spans more than 100 blockchains.
The U.S. launch marks a significant step for the company, which aims to rebuild trust and demonstrate compliance following the DOJ case.
Robert, OKX’s new U.S. chief, brings a background in capital markets and regulatory compliance. The company noted that he will lead efforts to strengthen relationships with U.S. regulators and guide the company through the evolving American regulatory environment.
“With the US advancing crypto regulatory clarity, we see tremendous opportunities to deliver secure, compliant digital asset solutions,” Robert said.
As global crypto firms navigate tightening oversight and shifting legal frameworks, OKX’s high-stakes reentry into the U.S. market is being closely watched by industry observers. The company’s future in the American market will depend not only on user adoption but also its ability to maintain strict compliance in a sector facing growing scrutiny.
