OKX Exchange Reaches $500 Million Settlement with Regulators While Revealing Complete US Expansion
The prominent crypto exchange OKX is making strides in the US trading market shortly after finalizing a $504 million settlement with US regulators. This hefty sum will be disbursed to resolve allegations made by US officials.
In a Tuesday (April 15) news, the exchange revealed plans to introduce its exchange and self-custodial Web3 wallet in the US. The update also noted the appointment of Roshan Robert as the new chief executive for the US division.
Congratulations to @Roshan_OKX on launching OKX in the US with our fantastic team! After months of dedicated effort, we’re excited about our potential to serve our community and drive ongoing innovation in America! https://t.co/5AGsGBPkYI
— hong (@hfangca) April 16, 2025
OKX Exchange Accelerates US Expansion Following Legal Resolution
Earlier this year in February, OKX admitted guilt for allowing over $1 trillion in transactions by US customers without the necessary licensing, resulting in a $504 million penalty. With this controversy cleared, the trading platform is fully committed to the US market.
OKX will be launching its trading platform and Web3 wallet in the US and has established a new headquarters in San Jose, California, strategically situated in Silicon Valley, the epicenter of technology.
Roshan Robert, the new US Chief Executive, expressed enthusiasm about his role, stating: “At this thrilling moment, I’m privileged to take on the position of US CEO at OKX. I look forward to spearheading our growth in the United States and expanding access to digital assets in a secure, transparent, and compliant manner.”
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According to the announcement, Robert brings expertise in capital markets and regulatory compliance, and his focus will be on enhancing collaboration with US regulators.
Hong Fang, Global President of OKX, commented on the expansion, emphasizing, “The US is a vital component of OKX’s global growth strategy.” She also congratulated Robert, saying, “Congrats to @Roshan_OKX for launching OKX in the US with the team. After extensive efforts, we’re all eager about how we can support our community and engage in continued innovation in America!”
US Growth For OKX Follows Recent MiCA License Acquisition In Europe
The US introduction comes in the wake of global expansion in Europe, Asia, and the Middle East. Founded in 2017 and headquartered in the Seychelles, OKX is currently the third largest centralized trading protocol globally by trading volume, following Bitget (2nd) and Binance (1st), according to CoinGecko.
OKX has become one of the first globally licensed MiCA crypto exchanges to provide its services across Europe within a unified regulatory framework. In a January 2025 announcement, the firm stated it would now be able to deliver regulated and localized crypto services to 28 countries within the European Economic Area (EEA).
The licensed European services will operate from OKX’s headquarters in Malta. Customers will have access to its crypto offerings through local payment methods and currency options.
The exchange platform accommodates trading in more than 300 cryptocurrencies, including BTC and ETH, available via spot and perpetual futures contracts.
As of July 2024, OKX reported having 53 million active individual web3 wallets within its separate wallet service, which supports over 100 different blockchains.
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OKX crypto trading network finalizes $504m settlement with US authorities and unveils full US expansion
- OKX has set up a headquarters in Silicon Valley as part of its initiative to expand in the US
- The exchange was penalized $504m for handling over $1 trillion in transactions from US investors without proper licensing
- OKX ranks as the third largest crypto trading platform by trading volume, trailing Bitget and Binance
- The trading protocol has appointed Roshan Robert as its new Chief Executive in the US
The article OKX Trading platform Agrees Half A Billion Dollar Settlement With Authorities While Announcing Full US Expansion first appeared on 99Bitcoins.
