OKX (previously OKEx), part of the OK Group, is one of the most prominent crypto trading exchanges operated by Seychelles-based Aux Cayer FinTech Co. Ltd and Malta-based OKEX Malta Ltd. The Chinese Xu Mingxing founded the OK Group, which also owns the crypto exchange Okcoin, in 2017. The Spanish regulator CNMV has issued a warning against OKX, stating that the Group has no authorization to offer its regulated services in Spain. Most recently, the UK FCA has made several critical statements about the world’s largest crypto exchange Binance.
Key data
| Trading names | OKX OKEx part of OKcoin |
| Domain | www.okx.com www.okcoin.com Okcoin USA, Inc. |
| Legal entities | Aux Cayes FinTech Co. Ltd, Seychelles OKEX Malta Ltd, Malta OKCoin Europe LTD, Malta OKCoin Pte Ltd, Singapore OKCoin Technology Company Limited, Hong Kong |
| Jurisdictions | Seychelles, Malta, Singapore US, Hong Kong |
| Related individuals | Jay Hao, CEO (LinkedIn) Xu Mingxing |
| Warning | CNMV |
The narrative
OKX is one of the major crypto exchanges with legal entities in various jurisdictions. Most recently, OKX has attracted attention with a notable sponsorship. Early March 2022, OKX announced that it entered into a sponsorship agreement with soccer Manchester City and will be the “Club’s Official Cryptocurrency Exchange Partner.” IT is OKX’s first venture into the world of sport and entertainment.
The Spanish regulator was not impressed and issued a warning stating that OKX is not authorized to offer investment services in Spain. It will be some time before regulators get comfortable with crypto companies.
