OKX Expands Crypto Operations to US, Joins Coinbase and Kraken

OKX relaunches in the U.S. with a new platform, wallet, CEO, and San Jose office, after settling with the DOJ for $505 million.

Sampson Gideon•April 16, 2025

OKX, a prominent global cryptocurrency exchange, has officially announced its relaunch in the United States. This signaled a significant move to re-establish its presence in the American market, joining giants like Coinbase and Kraken.

The announcement details a strategic overhaul that includes the launch of a self-custody Web3 wallet, a revamped centralized exchange platform, and the appointment of Roshan Robert as the new U.S. Chief Executive Officer.

US Expansion

The relaunch lets U.S. customers use OKX’s complete set of trading tools with good prices and many available coins. People using OKX’s old U.S. site, OKcoin, will easily switch to the new OKX site. To ensure smooth operation, new users will be allowed on in stages before everyone can use it later this year.

OKX is growing in the U.S. and has opened a new office in San Jose, California. This shows they want to follow the rules and work with regulators. It also puts them near skilled workers and the latest technology.

The new U.S. CEO, Roshan Robert, said they started talking to regulators in mid-2024. But they had already spent over a year building a strong system to follow the rules before returning to the U.S. This shows that OKX is serious about meeting U.S. rules.

“With the US advancing crypto regulatory clarity, we see tremendous opportunities to build trust and deliver secure, compliant digital asset solutions. I’m excited to lead OKX’s efforts in the US and bring our customers a flexible, high-performance crypto experience,” Roshan Robert asserted.

In addition to the trading site, OKX is launching a new wallet just for U.S. users. This wallet lets users keep their cryptocurrency safe and works with over 130 blockchains.

OKX Pays $500M to Settle with DOJ

In February 2025, CoinTab reported that OKX had agreed to pay around $505 million to settle a US Department of Justice (DOJ) investigation into its money transfer business without a license.

Notably, OKX will pay an $84 million fine and give up about $421 million in fees from US customers who used the platform without permission.

Moreover, prosecutors noted that from 2018 to early 2024, OKX let US customers make over $1 trillion in transactions, which generated hundreds of millions in fees and profits for the exchange.