OKX, Full-scale Expansion Into The U.S.…Cryptocurrency Companies Resurge Under Trump Administration Policy

The global cryptocurrency exchange OKX is fully launching its foray into the US market. The company announced that it will establish a new regional headquarters in San Jose, California, and officially launch the OKX platform and its e-wallet service, OKX Wallet, targeting US-based investors.

This announcement was personally delivered by OKX's newly appointed CEO, Roshan Robert. He stated, “This entry is a promise for responsible growth,” adding, “OKX is closely collaborating with US regulators and policymakers in line with changes in the regulatory environment.” Previously, Robert was part of the executive team at the institutional cryptocurrency lending service CLST and was a founding member of the prime broker Hidden Road, acquired by Ripple for $1.25 billion.

OKX plans to transition the sister platform OKCoin, used by existing US customers, to OKX. Through this, users will experience higher liquidity, lower fees, and advanced trading tools. The company stated, “We have built a comprehensive and risk-based global compliance program, and will provide a safe and legal trading environment through enhanced due diligence procedures, customer risk assessment systems, fraud detection tools, Anti-Money Laundering (AML) systems, geofencing, and market surveillance technologies.”

Meanwhile, OKX had settled with the US Department of Justice two months ago for operating without a money transfer license within the US and paid more than $500 million in fines and forfeiture costs. At the time, the Department of Justice stated that OKX was blocking US user access, but in reality, it was actively attracting customers in regions, including the Southern District of New York.

However, the current climate is different. Since President Trump's inauguration, the US government has shown a more flexible attitude towards the cryptocurrency industry, prompting not only OKX but also many cryptocurrency companies to turn their attention back to the US market. Recently, the token issuance platform CoinList resumed its US venture after five years, and Binance is reportedly considering re-entering the US as well.

OKX's decision this time is noteworthy as it is a strategic return intertwined with changes in the regulatory environment within the US market, rather than a simple platform expansion. As the overall flow of the cryptocurrency industry is redirecting towards the US, OKX's move might serve as a catalyst that could accelerate this trend.