By Shubhangi Chowdhury
Global cryptocurrency exchange OKX is likely to consider an Initial Public Offering (IPO) in the United States, following its relaunch in the country. This crypto platform recently returned to the American market in April 2024, after a $505 million settlement with the Department of Justice (DOJ) for operating without a money-transmitting license and since then working on U.S. expansion.
OKX’s Chief Marketing Officer Haider Rafique said that the exchange is open to the idea of a future IPO, adding that if it chooses to go public, the listing would “likely be in the U.S.,” as appeared in the interview conducted by The Information.
READ: Trump’s stablecoin powers $2 billion crypto deal with Binance (May 2, 2025)
The Seychelles-based platform established its regional headquarters in San Jose, California. With newly appointed CEO Roshan Robert (Wall Street veteran), OKX is aiming to enter Wall Street, riding on Circle IPO. The exchange is likely to join Gemini. Gemini has reportedly submitted S1 filing to the U.S. Securities and Exchange Commission (SEC) for listing on the New York Stock Exchange (NYSE).
OKX is now looking towards assessing an IPO in the early first quarter of 2026. Such a move aligns with the broader trends in the crypto space. Earlier, Coinbase leveraged IPOs to enhance visibility and unlock capital for product development. However, many see this as an alternative to Thailand’s block. Thailand’s securities regulator, the Thai Securities and Exchange Commission, announced in May that it would block OKX from operating in the country alongside four other exchanges including Bybit, 1000X, CoinEx and XT.COM on June 28. This measure aims “to protect investors and crack down on illegal platforms used for money laundering,” said the SEC.
“The SEC advises all investors using these platforms to take necessary action regarding their assets before the shutdown date,” the agency said.
Now, this reentry in U.S. is likely to be under scrutiny. But at the same time, this offering could be utilized as a potential plan to win trust at the global level. With going public would facilitate fresh new capital, reposition this platform as credible and become more transparent.
Few other cryptocurrency exchanges are likely to go public with their IPO filings such as FalconX is considering launching an IPO on the NYSE, Crypto.com for further brand expansion and Binance.US for restoring trust. While these exchanges prepare to go public, timing of the potential IPO is crucial to determine valuation and investor likeliness to invest.
READ: Donald and Melania Trump meme coins plunge post Inauguration Day (January 21, 2025)
OKX currently employs around 500 people across New York, San Francisco, and San Jose, California. Robert stated “The U.S. is no longer what you would consider as an impossible market. It’s an untapped opportunity if approached in the right manner.” The plan is to roll out the centralized exchange and OKX Wallet in phases. The wallet already supports 130 blockchains and includes a DEX aggregator that gives users access to over 10 million tokens.
Founded by Star Xu in 2013 as Okcoin, and later rebranded to OKX in 2017.