OKX Expands to US with San Jose HQ, Appoints Roshan Robert as CEO After $504M DOJ Settlement

OKX, a Seychelles-based global cryptocurrency exchange, has announced its expansion into the United States with the launch of a centralized trading platform and the OKX Wallet. The company has established its regional headquarters in San Jose, California, and appointed Roshan Robert as the US CEO. Robert, who previously worked at Barclays and Hidden Road, will lead the expansion efforts. The launch includes the migration of existing OKCoin users to the new OKX platform, promising them access to deeper liquidity, lower fees, and advanced trading tools. The rollout will be phased, starting with current users and gradually onboarding new customers, with a broader launch planned across the US later in the year. The OKX Wallet, designed as a Web3 gateway, supports over 130 blockchains and offers various trading modes. It also includes a DEX aggregator for access to a wide range of tokens, including Bitcoin, Ethereum, USDT, and USDC, across multiple networks. The wallet's features are tailored to enhance user experience in trading and managing digital assets, with seamless local bank account integrations. This expansion follows a $504 million settlement with the US Department of Justice in February over insufficient anti-money laundering processes. OKX has since implemented a comprehensive compliance program, including enhanced due diligence, a robust KYC process, customer risk rating systems, advanced fraud detection, AML tools, geo-blocking, and market surveillance technologies, to meet regulatory standards in the US.