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Cryptocurrency exchange OKX is expanding to the U.S. from their headquarters in Seychelles following the company’s recent settlement with the Department of Justice, OKX US CEO Roshan Robert announced in an April 15 statement.
U.S. based services and features are set to debut later this year, with the crypto company planning to launch a crypto “super app” within the same time frame. “Our entry into America is more than a market expansion—it’s a commitment to responsible growth,” Robert said.
According to the Tuesday press release, Americans will now be able to access OKX’s crypto exchange services and OKX wallet stateside as the company plans to open its regional headquarters in San Jose, California.
“We’ve built a comprehensive, risk-based global compliance program that includes enhanced due diligence, a robust KYC process, customer risk rating systems, advanced fraud detection, AML tools, geo-blocking, and market surveillance technologies,” he added.
“As regulations evolve, OKX is working closely with US regulators and policymakers to ensure we operate transparently and compliantly.”
“We are pleased with the resolution and look forward to implementing our global expansion plans and maintaining our status as the most trusted and technology-led crypto exchange in the world,” the company said in a recent press release.
News of the decision comes just two months after OKX was forced to pay $505 million in penalties and fees after its affiliate, Aux Cayes FinTech Co., reached a settlement with the U.S. Department of Justice after the agency claimed it had operated as an unlicensed money transmitter.