Recently, the cryptocurrency exchange OKX announced its official entry into the U.S. market. Earlier, OKX admitted to providing remittance services without obtaining regulatory licenses and paid a $504 million fine. After reaching a settlement with the regulatory agency, OKX exchange has now entered the U.S. market to provide compliant cryptocurrency services to American cryptocurrency investors.
OKX was formerly OKCoin, which was established in China in 2013. It is now headquartered in Seychelles and operates in more than 100 countries or regions around the world. OKX's previous operating entity in the United States, OKCoin, is now integrated under the OKX brand. American users who originally traded through OKCoin can now use the latest version of OKX and obtain services such as Web3 wallets.
Among them, the Web3 wallet service supports more than 130 blockchains. Users can exchange tokens, transfer assets across chains, explore NFTs, and use more popular Web3 applications through the OKX Web3 wallet. The wallet not only supports retail traders, but also provides services for larger institutional traders.
OKX in the United States is led by Roshan Robert, a former Barclays executive who has deep experience in financial services and can provide more insights into OKX's legal and compliance operations in the United States.
Roshan Robert stated in the official press release:
OKX is committed to providing customers with more choices and strong compliance. We are bringing a new alternative to the United States with a strong compliance and risk management framework. We will provide retail investors with access to fiat currency trading and provide low fees and deep liquidity, while also providing institutional customers with institutional-level compliance.
OKX currently ranks fifth in the global cryptocurrency exchange rankings based on traffic, liquidity and trading volume. It is a leading brand in the cryptocurrency field along with Binance, Coinbase, Huobi and other platforms.