CALIFORNIA – Cryptocurrency exchange OKX, announced April 15, that it was launching a U.S. exchange and wallet along with a regional headquarters in California.
According to CoinGecko, the Seychelles-based company recorded the third-largest cryptocurrency trading volume in the past 24 hours, totaling $2.54 billion.
“American customers can buy, sell, and convert top cryptocurrencies like Bitcoin, Ethereum, USDT, and USDC, while also connecting traditional finance with crypto through seamless local bank account integrations,” said OKX US CEO and former Barclays director Roshan Robert.
Until now, the exchange has not been accessible to U.S. investors – only its sister exchange, OkCoin, was available, offering a limited selection of coins and features.
‘Customers can always verify their funds’
Robert said in addition to its centralized exchange, the OKX Wallet is available for American customers — a Web3 gateway that supports over 130 blockchains.
Web3 is the next generation of the internet, focused on decentralization and blockchain, giving control to users instead of corporations.
The company said it maintains a global proof of reserves for all assets on its platform and publishes monthly, independently verified reports through blockchain security firm Hacken.
“This ensures our customers can always verify their funds and trust in our systems,” said Robert in a blog post.
Existing OKCoin customers will be migrated to the OKX platform.
OKX settles with DOJ for $504 Million
The announcement follows OKX’s recent settlement with the Department of Justice (DOJ), where it pleaded guilty to operating an unlicensed money transmitting business.
OKX agreed to pay more than $504 million for penalties.
