OKX relaunches U.S. crypto exchange with new wallet, taps ex-Barclays exec as CEO

OKX, a cryptocurrency exchange based in Seychelles, is extending its reach into the United States with a new regional office in San Jose, California. The move will give U.S.-based crypto traders access to the platform and its native OKX Wallet.

Additionally, OKX hired former Barclays executive Roshan Robert as its U.S. CEO to lead the company’s U.S. expansion.

The renewed focus on the U.S. comes after OKX recently reached a settlement of over $500 million with the DOJ to resolve allegations that it had operated in the United States without a money transmitter license.

Roshan Robert reveals OKX’s U.S. strategy

Roshan Robert was a founding member of the crypto prime broker Hidden Road, which Ripple recently purchased for $1.25 billion. He recently served as an executive at the institutional crypto lending platform CLST. Meanwhile, Robert, now acting as the recently hired CEO, announced that the new expansion was a commitment to responsible growth.

To further demonstrate their commitment to a secure trading environment, he highlighted that the crypto exchange platform’s comprehensive, risk-based global compliance program includes enhanced due diligence, robust KYC procedures, customer risk rating systems, advanced fraud detection, AML tools, geo-blocking measures, and market surveillance technologies.

Additionally, the company’s launch announcement stated that existing users of OKCoin—OKX’s U.S.-accessible sister company—will be smoothly transitioned to the OKX platform, granting them access to advanced trading tools, lower fees, and greater liquidity.

The cryptocurrency industry has turned its attention to the U.S.

The United States has become much more welcoming to the cryptocurrency industry under U.S. President Donald Trump’s administration. 

To support this, OKX recently considered expanding into the United States with a new office. This followed the DOJ’s earlier allegation that, despite having a formal policy prohibiting U.S.-based users from using its platform, it actively sought clients in the U.S., including in the Southern District of New York.

The platform served both retail and institutional clients in the U.S. from around 2018 until early 2024, processing over a trillion dollars’ worth of crypto transactions.

OKX pleaded guilty to offering services to U.S.-based clients without obtaining a money transmitter license and paid more than $504 million in the settlement, of which $84 million was a penalty. The remaining amount reflected fees the exchange earned from its U.S. customers.

Interestingly, apart from OKX, bigger names, like Binance, the biggest cryptocurrency exchange in the world, is reportedly thinking about returning to the United States. At the same time, CoinList, a token launch platform, announced earlier this month that it would return to the country after being away for five years.

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