OKX US, the American arm of the global cryptocurrency exchange OKX, is making significant strides in the United States market. Distributed by Public, unedited and unaltered, on 27 October 2023. Its chapter aims to be the most trusted leader within the digital asset ecosystem. Most recently, the company rolled out the first fully-compliant Web3 wallet in the US. This latest cryptocurrency wallet, which onboards 130 blockchains, focuses on product innovation and ways to foster customer trust. This latest move further demonstrates OKX’s commitment to broadening access to digital assets. It seeks to promote sustained adoption in the long term by both retail and institutional users.

OKX, established in 2017 and originally registered in Seychelles. Today, it has grown to become one of the leading five centralized crypto exchanges by daily trading volume of over $2 billion. While OKX is hugely popular around the world, it faced immense difficulty within the US. The company had been doing business illegally under a subsidiary, without a money transmitter license. Just two months ahead of its planned nationwide expansion, the company settled with the Department of Justice (DoJ). Consequently, they had to deal with a massive proposed penalty of $500 million. OKX US has made its regional headquarters in San Jose, California. As a licensed operator, it has a strong commercial and legal incentive to operate in complete compliance with US regulations.

Leadership and Strategic Objectives

Roshan Robert, the newly appointed CEO of OKX US, is at the forefront of coordinating the company’s foray into the US market. He emphasizes three key objectives: alignment with state and federal requirements, product innovation, and establishing customer trust. Robert has a strong conviction these priorities are what will allow New York to succeed in an increasingly competitive US crypto landscape.

“Success means becoming a trusted leader in the US crypto space – known for innovation, compliance, and a superior user experience,” - Roshan Robert

Robert’s ironclad integrity and unflinching demand for high standards has made an indelible mark on the culture of leadership within the organization. He has a vision to create a new, different company – one that better aligns with the expectations of US users, partners and regulators.

“I’m committed to lead with integrity, ensuring we meet the high standards of US users, partners, and regulators,” - Robert

Web3 Wallet Launch and Product Innovation

The launch of the new Web3 wallet in the US is a significant step towards product innovation for OKX US. The wallet currently supports 130 different blockchains, giving users access to thousands of different digital assets and decentralized applications. This all-access Web3 application underscores OKX's commitment to providing affordable "institutional-grade infrastructure to deliver a best-in-class experience."

“The wallet provides access to all kinds of crypto and digital assets across more than 130 blockchains, including a range of decentralized crypto markets with NFTs, meme coins and new trending digital assets,” - Roshan Robert

The exchange lists more than 300 different coins and more than 700 different trading pairs. This extensive selection, combined with the new Web3 wallet, positions OKX US as a comprehensive platform for both novice and experienced crypto users. By offering a user-friendly interface and access to diverse digital assets, OKX aims to drive the adoption of cryptocurrencies in the US market.

Regulatory Compliance and Future Growth

They understand that maintaining compliance with state and federal requirements is key to reaching their long-term goals and success. The company demonstrates its dedication to transparency and responsible growth. It continues to work hand-in-hand with regulators to shape a thoughtful framework that will best ensure compliance. Putting your users and your partners first goes a long way toward establishing trust. This fosters a transparent, safe, and responsible environment in which Americans can trade digital assets.

Despite the difficulties associated with entering such a highly regulated market, OKX US remains hopeful for its new growth potential. The company expects innovation, compliance, and customer experience will set it apart from competitors. OKX US is committed to providing the best overall user experience. Their goal is to increase access to digital assets in all 50 States and increase the adoption of cryptocurrencies nationwide.

“we’re here to grow responsibly, expand access to digital assets, and help drive long-term adoption among both retail and institutional users.” - Roshan Robert