OKX has emerged as one of the world’s most influential cryptocurrency exchanges, consistently ranking among the top platforms by trading volume and user trust. Founded in 2017 by Star Xu, who remains CEO as of 2023, OKX serves over 50 million users worldwide and operates as a premier destination for spot and derivatives trading in digital assets. The platform is part of the broader OK Group, which also owns the well-known exchange Okcoin.
With a strong focus on innovation, regulatory compliance, and global expansion, OKX has positioned itself at the forefront of the evolving crypto economy. It currently holds licenses and operates in key financial hubs such as Hong Kong, Dubai, The Bahamas, France, and Singapore. Its international presence is further strengthened by offices in Dubai, Turkey, Hong Kong, Silicon Valley, Singapore, and Australia.
Core Offerings and Market Reach
At its foundation, OKX enables investors to buy and trade major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and a wide range of altcoins. The exchange supports both retail and institutional traders with advanced tools for spot trading, futures contracts, options, and margin trading. As of August 2024, OKX ranks among the Top 3 Spot Cryptocurrency Exchanges globally according to CoinMarketCap, earning a Spot Exchange Score of 7.8 — a testament to its liquidity, security, and operational reliability.
👉 Discover how OKX powers next-generation crypto trading with cutting-edge tools and deep liquidity.
Strategic Partnerships and Brand Visibility
OKX has significantly elevated its global profile through high-impact partnerships across sports, entertainment, and technology:
- Manchester City FC: In March 2022, OKX became the club’s official cryptocurrency partner. By July 2022, it expanded into a training kit sponsorship for both men’s and women’s teams. In July 2023, this relationship deepened with a reported £55 million, three-year deal making OKX the club’s new shirt sleeve sponsor.
- McLaren Racing: A multi-year partnership launched in May 2022 as a primary sponsorship. In March 2023, it was expanded to include increased branding on F1 race cars and support for the McLaren Shadow esports team. The collaboration featured unique “cyberpunk” and “stealth mode” liveries during key Grand Prix events in Singapore and Japan.
- Tribeca Festival: Since June 2022, OKX has served as the festival’s top sponsor. It holds exclusive rights for NFT marketplaces, cryptocurrency exchanges, social tokens, DeFi, and GameFi categories at Tribeca events. In 2023, OKX launched an NFT Pass and an on-site “NFT Lab,” enabling attendees to mint free NFTs using generative AI.
- Australian Olympic Team: OKX has partnered with Team Australia to support athlete engagement and digital innovation initiatives.
- LIV Golf: In June 2023, OKX signed a sponsorship deal with Majesticks GC, extending through the 2024 season.
These alliances reflect OKX’s strategy to build brand trust beyond traditional crypto circles and engage mainstream audiences.
Evolution and Expansion Timeline
2017: Founding and Early Growth
Launched by Star Xu in 2017, OKX began operations with a global vision from day one. Initial offices were established in Singapore, Hong Kong, UAE, The Bahamas, and the United States. By April 2018, it had expanded into Malta, drawn by the country’s forward-thinking blockchain regulations.
2018–2021: Scaling Operations
- May 2018: OKX became the world’s largest cryptocurrency exchange by reported turnover.
- June 2018: Launched a white-label exchange service requiring applicants to have $2.5 million in assets and proven industry experience.
- November 2019: Responded positively to new digital asset regulations from Hong Kong’s Securities and Futures Commission (SFC), signaling long-term regulatory alignment.
- February 2021: Achieved record trading volume of $188 billion — a 26% increase month-over-month.
Despite regulatory challenges in China — including keyword blocks on platforms like Baidu and Weibo in June 2021 — OKX continued expanding internationally while maintaining its policy of withdrawal from mainland China.
2022–2023: Rebranding and Institutional Advancement
- January 2022: Rebranded from OKEx to OKX, reflecting its evolution into a comprehensive financial services ecosystem.
- March 2022: Refused calls to ban Russian crypto trading, emphasizing neutrality in geopolitical matters.
- July 2022: Secured a provisional virtual asset license in Dubai.
- December 2022: Announced plans to grow staff in The Bahamas to around 100 employees over three years, establishing a regional hub for Latin America and the Caribbean.
In early 2023:
- Published a Proof of Reserves (PoR) report showing the highest clean asset reserves among major exchanges — a metric developed by CryptoQuant measuring reliance on native tokens.
- Applied for licensing in Hong Kong under new regulatory frameworks allowing retail crypto trading.
- Joined Copper’s ClearLoop Platform, enabling secure off-exchange settlements.
- Incorporated in France and began building a European hub in Paris.
- Enabled Bitcoin Ordinals (NFTs inscribed directly on Bitcoin) within the OKX Wallet.
By mid-2023:
- Became the first client of Komainu Connect, a Nomura-backed regulated custody and settlement system supporting 24/7 trading.
- Received full spot trading approval in Dubai.
- Partnered with CoinRoutes to provide institutional clients with API-driven trading solutions powered by advanced algorithms and transaction cost analysis.
👉 See how institutional investors are leveraging OKX’s advanced trading infrastructure today.
Transparency and Trust: Proof of Reserves
In an era defined by scrutiny over exchange solvency, OKX has taken proactive steps to reinforce transparency. Since January 2023, it has published monthly Proof of Reserves reports — now totaling eleven consecutive publications. The September 2023 report revealed:
- A BTC reserve ratio of 102%
- Full disclosure of collateralization ratios for Bitcoin, Ethereum, Tether (USDT), and USD Coin (USDC)
This consistent reporting underscores OKX’s commitment to financial integrity and user protection.
Frequently Asked Questions (FAQ)
Q: Is OKX available for users in the United States?
A: No. Due to regulatory restrictions, OKX does not serve users based in the United States.
Q: What is the difference between OKX and OKEx?
A: OKEx was rebranded to OKX in January 2022 to reflect its transformation from a pure exchange into a broader digital financial services platform.
Q: Does OKX charge listing fees for cryptocurrencies?
A: No. OKX has publicly stated that it does not charge any fees for listing tokens on its platform.
Q: How does OKX ensure the security of user funds?
A: Through multi-layered security protocols, cold wallet storage, regular audits, and transparent Proof of Reserves reports showing over-collateralization across major assets.
Q: Can I trade NFTs on OKX?
A: Yes. OKX supports Bitcoin Ordinals and offers integrated tools for viewing, transferring, and managing NFTs directly within the OKX Wallet.
Q: What role does the OKB token play on the platform?
A: OKB is OKX’s native utility token used for fee discounts, governance participation, exclusive launches, and ecosystem incentives across partner networks.
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