TL;DR
- OKX returns to the U.S. market after paying $505 million for operating without a license and appoints Roshan Robert as CEO to lead its relaunch.
- The comeback includes a new centralized exchange, the integration of OKX Wallet, and a full migration of Okcoin users.
- The platform combines centralized services and Web3 with monthly audits, support for 130 blockchains, and AI-powered features.
OKX announced its return to the U.S. market after settling a federal investigation with the Department of Justice.
The company agreed to pay $505 million for operating without a license in the country and for violations of anti-money laundering laws. As part of this new phase, it appointed Roshan Robert, former director at Barclays, as CEO to lead its U.S. operations and oversee the implementation of its new platform.
OKX’s Comeback and New Tools
The company’s return will include the launch of a centralized exchange and the integration of the OKX digital wallet. OKX selected San Jose, California, as its regional headquarters and will start with a gradual rollout for new users. The full platform will be available nationwide before the end of the year. In addition, all existing Okcoin customers will migrate to the new infrastructure, which offers higher liquidity, lower fees, and advanced trading tools.
OKX aims to simplify access to assets such as Bitcoin, Ethereum, USDT, and USDC through direct integration with local banks. It will also maintain a proof-of-reserves system to back all funds, with monthly reports and audits conducted by the firm Hacken.
OKX Wallet supports more than 130 blockchains. It offers usage modes tailored to each user’s experience level, along with a decentralized exchange aggregator and access to more than 10 million tokens.
The company added new features powered by artificial intelligence to simplify token exploration and enhance decision-making. The wallet also supports swaps, connections to decentralized applications, and operations related to DeFi, NFTs, gaming, and social platforms.
Focus on Regulatory Compliance
The company stated that this new phase will prioritize regulatory compliance. It will implement a compliance program that includes strict identification procedures, fraud detection, geolocation blocking, and market monitoring. The goal is to operate within the U.S. regulatory framework without compromising user experience.
With this strategy, OKX aims to regain ground in the country and offer a competitive alternative to already established platforms by combining centralized services and Web3 tools in a single ecosystem.
