Crypto exchange OKX is reportedly laying the groundwork for a U.S. initial public offering (IPO), marking a significant step forward just months after resuming operations in the American market, according to a report.
Although the company has yet to confirm the IPO plans publicly, sources indicate that the exchange is actively exploring a public listing as part of its broader expansion efforts. This move comes on the heels of OKX’s return to the U.S. on April 15, 2025, following the resolution of a high-profile legal dispute with the U.S. Department of Justice (DOJ).
OKX, one of the top three global crypto exchanges, will consider an IPO in the U.S., after relaunching in the U.S. in April.
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The report noted that earlier this year, the DOJ sanctioned OKX for operating an unlicensed cryptocurrency business in the United States. Despite the exchange’s policy barring U.S. users since 2017, the investigation revealed that certain American customers continued to access its global platform. The DOJ cited compliance violations spanning from 2018 through early 2024. The legal standoff was ultimately settled with a $505 million agreement, a development that prompted OKX to recalibrate its regulatory strategy and prioritize full compliance within the U.S. market.
Momentum around the IPO has grown in recent weeks, particularly after OKX publicly supported the debut of USDC stablecoin issuer Circle on the public markets.
At the same time, OKX is not limiting its ambitions to the U.S. market. The exchange is also ramping up its regulatory presence across Europe. Just last week, it launched fully licensed trading platforms in Germany and Poland, building on a series of successful license acquisitions throughout the region. These parallel moves in both the U.S. and Europe reflect OKX’s global strategy to grow through compliance-driven expansion, strengthening its position as a key player in the evolving crypto landscape.
Meanwhile, Gemini—another major crypto exchange founded by the Winklevoss twins, is reportedly following a similar path. The company has quietly submitted a confidential filing for an initial public offering, signaling its ambitions to tap public markets as regulatory clarity around crypto operations in the U.S. continues to improve.
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