OKX TO RELAUNCH IN THE U.S. WITH MAJOR UPDATES

- Seychelles-based OKX announces to relaunch its U.S. version, with a revamped centralized exchange and a new multi-chain Web3 wallet.

- Roshan Robert, formerly of Barclays and crypto broker Hidden Road (acquired by Ripple), steps in as U.S. CEO.

- The relaunch follows a significant settlement with the U.S. Department of Justice. OKX paid a $500M fine for AML violations, but there were no customer harms or charges against employees.

- OKX has spent the last year prepping its compliance infrastructure, aligning with U.S. regulations under a more crypto-friendly environment.

“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,” said Robert. “These are all part of our commitment to a secure, compliant trading environment.”

- OKCoin users will be seamlessly moved to OKX, gaining access to deeper liquidity, lower fees, and advanced trading tools.

- The exchange is entering a competitive space dominated by Coinbase and Kraken but believes the market isn't zero-sum. "The digital asset market is expanding," says Robert.

Image: OKX X platform