Crypto Exchange OKX Eyes Wall Street Debut After April Comeback: Report

Crypto exchange OKX is weighing a potential initial public offering in the US, just two months after settling with US authorities and relaunching its operations in the country, according to a report from The Information.

The move would mark a sharp turnaround for the Seychelles-registered exchange, which exited the US market after a series of regulatory violations.

In February, OKX agreed to pay over $504m in penalties to settle charges brought by the Department of Justice.

OKX Makes a Big Return to US Markets

Prosecutors said the company operated an unlicensed money-transmitting business and failed to implement basic anti-money laundering controls. Between 2017 and its exit, OKX allegedly processed more than $1 trillion in trades for US users despite policies suggesting otherwise.

Just two months later, OKX announced its return to the US market. The company set up a regional headquarters in San Jose, California, and tapped Roshan Robert, a former executive at Morgan Stanley and Barclays, as its US CEO.

At the time, Robert said the firm’s re-entry reflected “a commitment to responsible growth” and added that OKX was working closely with regulators to stay compliant.

The exchange has been working to rebuild its reputation, particularly in the eyes of US regulators. Its leadership has framed the relaunch not as a relabeling effort, but as a strategic reset focused on transparency and adherence to evolving US crypto laws.

IPO Plans Signal Ambition, but Regulatory Hurdles Still Loom

A listing on a US stock exchange would mark a big shift for OKX, potentially opening the door to greater institutional trust and a broader investor base. The company has not yet filed paperwork with the SEC, and the timeline remains unclear.

OKX is not alone in exploring a public offering. Bullish, backed by investor Peter Thiel, and Gemini, founded by the Winklevoss twins, have both confidentially filed for IPOs in recent months.

Meanwhile, stablecoin issuer Circle recently closed an oversubscribed listing valuing it at nearly $8.1b on a fully diluted basis.

However, regulatory scrutiny continues to shadow OKX. In May, Thailand’s Securities and Exchange Commission said it planned to shut down certain exchanges, including OKX, for operating without a license.

If OKX proceeds with a US IPO, it will gauge investor interest while also revealing how much leeway regulators are willing to give crypto firms after past violations.

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