OKX

OKX
OKX logo
Company type	Privately held company
Industry	Cryptocurrency
Predecessor	Okcoin OKEx
Founded	2013
Founder	Star Xu
Headquarters	San Jose, California, United States
Area served	Worldwide
Key people	Star Xu (CEO) Haider Rafique (CMO) Jeff Ren (CIO) Hong Fang (President)
Products	Cryptocurrency exchange NFT marketplace OKX Wallet Cryptocurrencies
Number of employees	5,000+ (2025)
Website	www.okx.com

OKX, formerly known as OKEx, is a blockchain technology company that operates one of the world’s largest cryptocurrency exchanges by daily trading volume and provides access to decentralized finance (DeFi) services through its OKX Wallet. It is headquartered in San Francisco. It is the world’s second-largest cryptocurrency exchange and is pursuing a U.S. rebrand, consolidating services under a single name while aligning with regulatory requirements and operational infrastructure.

OKX Wallet is a secure, multichain cryptocurrency wallet enabling users to store, swap, and manage digital assets while accessing decentralized applications without relying on intermediaries.

Star Xu (born 1985), a Chinese entrepreneur and cryptocurrency expert, is the founder and CEO of OKCoin, a major Bitcoin exchange in China, which was rebranded as OKEx in 2017. In October 2024, OKX launched a licensed cryptocurrency exchange in the United Arab Emirates, offering retail and institutional trading, following VARA’s crackdown on unlicensed operators to ensure regulatory compliance.

Ever since its launch, the company has extended its operations to Singapore, Brazil, Australia, and the Republic of Türkiye, providing trading, DeFi access, and Web3 wallet services. By 2025, OKX had approximately 5,000 employees and launched its U.S. exchange and Web3 wallet. The company appointed Roshan Robert as the U.S. CEO under the name OKX, Inc.

It was registered with FinCEN, licensed across multiple U.S. jurisdictions, and holds full MiCA authorization in Malta, in addition to licenses in other international markets. In 2022, OKX became the Tribeca Festival’s presenting sponsor, replacing previous partners, supporting festival programming, and signaling increased engagement between cryptocurrency platforms and global cultural institutions.

History

Star Xu founded OKCoin in 2013, which was officially rebranded as OKX in 2022, advancing exchange infrastructure and CeFi–Web3 integration. In 2025, OKX promoted cryptocurrency self-custody at the Tribeca Festival through a teaser short film titled Mild Mild West, produced in collaboration with Chromista, featuring prominent actors and distributed globally through festival partnerships. In July 2018, Malta enacted comprehensive blockchain and cryptocurrency legislation, becoming the first jurisdiction to provide legal certainty for distributed ledger technologies, earning recognition as the “Blockchain Island.”

Exchange Growth: 2018–2021

In June 2018, OKEx announced a white-label cryptocurrency exchange program, enabling qualified partners to launch branded trading platforms using its infrastructure, technology, and compliance systems.

In February 2021, global cryptocurrency trading volumes rose 17% to $2.7 trillion, driven by institutional adoption, with major exchanges capturing increased market share, according to CryptoCompare data reported by Reuters.

In June 2021, Chinese platforms Baidu and Weibo reportedly restricted searches for cryptocurrency exchanges such as Huobi, Binance, and OKEx amid heightened regulatory scrutiny. By October 2021, OKEx, originally established in Beijing, China, underwent organizational changes.

Later, OKEx announced its withdrawal from mainland China, following Huobi and Binance, citing regulatory compliance and maintaining an international market focus with overseas operations and staff. Huobi announced the cessation of trading services for mainland Chinese users. following Binance and OKEx, completing the withdrawal of China’s three major cryptocurrency exchanges amid strengthened national regulatory measures.

Rebrand and Expansion: 2022–2023

In January 2022, OKEx rebranded as OKX, positioning itself as a cross-platform services provider. Haider Rafique, Global Chief Marketing Officer of OKX, led the company’s rebranding from OKEx, aiming to expand global recognition and position it as a customer-centric cryptocurrency exchange.

Binance and OKX declined calls to block Russian cryptocurrency transactions, citing neutrality, even as trading in ruble bitcoin and ruble Tether pairs surged amid sanctions following Russia’s invasion of Ukraine.

Later, OKX obtained a provisional license from Dubai’s Virtual Assets Regulatory Authority (VARA), enabling it to offer exchange products to qualified investors and establish a regional hub in the United Arab Emirates.

OKX, registered under the Bahamas’ Digital Assets and Registered Exchanges Act, announced plans to expand its local workforce to approximately 100 employees over three years, establishing a regional hub for the Caribbean.

OKX, the world’s second-largest cryptocurrency exchange by trading volume, released its January 2023 Proof of Reserves report, confirming $7.5 billion held in BTC, ETH, and USDT, representing the largest fully verified “clean” asset reserves among major exchanges. Huobi Global and OKX, both founded in mainland China, announced plans to apply for Hong Kong licences, aligning with new regulations requiring crypto exchanges to obtain authorisation for retail operations. Hong Kong’s Securities and Futures Commission established a regulatory framework for cryptocurrencies, permitting retail investors to trade approved large-cap tokens on licensed platforms with safeguards, including risk profiling and limits on investment exposure.

In 2023, Hong Fang, President of OKX, discussed the future of Bitcoin, stablecoins, and financial infrastructure, emphasizing CeFi-DeFi integration, self-custody wallets, Proof of Reserves, regulatory compliance, and global-local organizational strategies, and planned to apply for a virtual asset licence in Hong Kong, positioning the company to operate under upcoming regulations and support the city’s development as a global cryptocurrency hub.

In May 2023, OKX filed an application to become a registered Digital Asset Service Provider in France, aiming to expand its European presence and operate under AMF and ACPR regulations.

OKX Wallet became the first multi-chain platform to enable viewing and transferring Bitcoin ordinals, supporting BTC Taproot addresses and integrating upcoming minting and trading functionality via its NFT Marketplace.

By June 2023, OKX partnered with regulated custody provider Komainu, integrating Komainu Connect to enable institutional clients to trade segregated assets securely 24/7, reducing counterparty risk and enhancing custody solutions. In 2023, Binance’s global spot market share declined amid U.S. regulatory actions and fee changes, while competitors OKX, Huobi, and Bybit increased their trading volumes. In the same year, Hong Kong issued its first retail cryptocurrency licenses, approving HashKey and OSL to provide digital asset trading services, while additional exchanges, including OKX and Huobi, continued applying.

In August 2023, OKX partnered with CoinRoutes to enable institutional clients to access full API-enabled trading, combining CeFi and DeFi liquidity for best execution, advanced algorithms, and transaction cost analysis.

Expansion and Marketing: 2024–2025

In October 2024, Jay Hao, former CEO of OKX, joined Indian blockchain startup CIFDAQ as co-founder and global COO, focusing on launching a centralized crypto exchange, wallet services, and security-led growth.

In the same year, cryptocurrency exchange OKX launched Singapore dollar deposit and withdrawal services, integrating with DBS Bank via PayNow and FAST, following regulatory approval from the Monetary Authority of Singapore. By 2025, OKX released Mild Mild West, a short film marking its first major crypto marketing campaign, created in partnership with the Tribeca Film Festival and filmmaker Darren Aronofsky’s advertising company. In April 2025, OKX relaunched its U.S. crypto exchange, introduced a new wallet for American users, and appointed Roshan Robert as U.S. CEO, following a $500 million Department of Justice settlement.

Sponsorship and Advertising

Manchester City FC and OKX

In March 2022, Manchester City announced a multi-year partnership with cryptocurrency exchange OKX, naming it the club’s official crypto exchange partner across men’s, women’s, and esports teams, in a multimillion-dollar agreement. In July 2022, OKX became Manchester City’s Official Training Kit Partner for the 2022–23 season, featuring on men’s and women’s first-team training kits, expanding its existing cryptocurrency exchange partnership.

By February 2023, OKX and Manchester City players launched OKX Collective, an immersive metaverse platform offering fans exclusive Web3 content, virtual experiences, and digital collectibles developed in collaboration with selected first-team players.

In July 2023, Manchester City upgraded its partnership with OKX, naming the crypto exchange sleeve sponsor on men’s and women’s kits, reportedly worth £55 million over three years.

McLaren Partnership with OKX

Additionally, in 2022, McLaren Racing announced a multi-year partnership with OKX, naming the cryptocurrency exchange a Primary Partner for McLaren Formula 1 and Shadow esports teams, enhancing global fan engagement. In the same year, McLaren Racing and OKX unveiled a cyberpunk-inspired "Future Mode" livery for the MCL36 F1 cars, celebrating the Singapore and Japanese Grands Prix while highlighting their Web3 collaboration.

Furthermore, McLaren Racing expanded its partnership with OKX, naming the cryptocurrency exchange an Official Primary Partner, increasing branding on MCL60 cars, driver suits, and enhancing fan experiences globally, starting with the 2023 Australian Grand Prix.

Tribeca Festival and OKX

In 2022, Tribeca Festival appointed cryptocurrency exchange OKX as its primary sponsor, replacing traditional partners American Express and AT&T for a three-year, multi-million-dollar agreement.

Tribeca Festival announced cryptocurrency exchange OKX as its first crypto presenting sponsor in 2022, marking the festival’s expansion into NFTs, digital assets, and metaverse-driven artistic experiences globally. In the same year, OKX launched a multi-million dollar global brand campaign, featuring Pep Guardiola, Daniel Ricciardo, and Scotty James, aiming to expand its presence beyond Asia and educate global crypto traders.

By 2023, cryptocurrency company OKX sponsored the Tribeca Film Festival to promote NFTs, crypto wallets, and generative AI, aiming to engage audiences while exploring Hollywood as a strategic lobbying platform.

OKX announced plans to open an office in Australia in 2023, with ambassadors Daniel Ricciardo, Scotty James, and Oscar Piastri supporting the initiative ahead of the Australian Grand Prix. In 2023, Ian Poulter’s LIV Golf team, Majesticks GC, secured a sponsorship with cryptocurrency exchange OKX, marking the league’s first Web3 partnership and branding the team through the 2024 season.

Criticism and Controversies

On July 31, 2025, a client (user ID 2051247) placed a large long order of 4,168,515 contracts, triggering OKX’s risk management system and resulting in account liquidation after BTC price declined.

In October 2020, OKEx suspended cryptocurrency withdrawals after founder Xu Mingxing was taken for a policy-related investigation, affecting the exchange ranked 11th globally by trading volume. In November 2020, OKX announced the reopening of cryptocurrency withdrawals after a private key holder assisted authorities in an investigation, confirming no wrongdoing, with full user funds accessible and enhanced wallet security.

In August 2018, OKEx injected BTC 2,500 into its insurance fund to partially cover a $29 million loss from a liquidated USD/BTC futures trade, reducing profitable traders’ clawback rate.