Seychelles-based cryptocurrency exchange OKX has relaunched its U.S. platform and introduced a new crypto wallet tailored for American users, marking a renewed push into the world’s largest financial market. Alongside the relaunch, the company announced that industry veteran Roshan Robert will serve as CEO of its U.S. division and that its American headquarters will be based in San Jose, California.
“It is not just the rebrand. The entire technology interface, everything has changed,” said Robert, who previously held an executive role at crypto prime broker Hidden Road, acquired by Ripple for $1.25 billion earlier this year. He is also a former Barclays executive.
The company’s reentry into the U.S. market comes on the heels of a high-profile settlement with the U.S. Department of Justice in February. Federal prosecutors accused OKX’s international entity of violating anti-money laundering regulations and illegally soliciting U.S. customers without proper registration. As part of the settlement, OKX admitted guilt to operating an unlicensed money-transmitting business, paid a $500 million fine, and agreed to fund an independent compliance consultant through February 2027.
“For over seven years, OKX knowingly violated anti-money laundering laws and avoided implementing required policies to prevent criminals from abusing our financial system,” said Matthew Podolsky, Acting U.S. Attorney for the Southern District.
In response, OKX emphasized in a blog post that the settlement did not include allegations of customer harm, individual charges against employees, or a government-appointed monitor.
The relaunch coincides with a shift in the U.S. regulatory climate. While some observers credit a more crypto-friendly stance under President Donald Trump’s second administration, Robert noted that OKX’s U.S. strategy began long before the change in leadership. “We were preparing our compliance infrastructure, our risk management infrastructure for the last year and a half or so,” he said, adding that his conversations with OKX began in mid-2024 before he officially joined in September.
Still, Robert welcomed what he described as a more pragmatic regulatory approach from the current administration. “The rulemaking will take some time, but there is a path that we can see,” he said.
Robert now faces an uphill battle in a crowded market dominated by established players like Coinbase and Kraken. However, he sees room for growth, driven by younger generations and a broader embrace of digital assets. “The whole digital asset market is an expanding universe,” he said.
Prior to Robert’s appointment, OKX’s U.S. operations—formerly branded as OKcoin—were overseen by the company’s global president, Hong Fang.
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