OKX Reports Strong User and Volume Growth in Regulated Markets
Crypto exchange OKX says its push into fully licensed markets has dramatically reshaped its business, with trading activity in regulated jurisdictions surging throughout 2025.
According to the company, volumes in markets where it operates under formal regulatory approval expanded by a factor of 53 over the past year, fueled largely by launches in the United States and across Europe.
Key takeaways
- OKX reports a 53-fold increase in trading volume across licensed and regulated markets in 2025.
- Daily active wallets doubled year over year, with roughly 190,000 new wallets created each day.
- Decentralized trading on OKX rose sharply, while centralized volumes also recorded steady growth.
- Expansion into the US and the European Economic Area under MiCA drove much of the increase.
Citing internal metrics, OKX said user activity accelerated alongside its geographic expansion. The exchange reported that daily active wallets doubled compared with the previous year, supported by consistent onboarding of new users. On average, around 190,000 new wallets were created each day. Trading patterns also shifted, with decentralized exchange volume on the platform climbing 262% globally, while centralized trading volumes increased by 16% over the same period.
The company attributes this growth to a strategy centered on operating within regulated frameworks rather than relying on offshore access. In Europe, OKX rolled out services across the European Economic Area in January after securing authorization under the European Union’s Markets in Crypto-Assets framework, commonly known as MiCA. The license allows crypto service providers to offer products across the bloc under a single regulatory regime.
In the United States, OKX said its April market entry aligned with a series of favorable regulatory developments. These included the passage of the GENIUS Act, which established a federal framework for stablecoins, as well as actions by the Office of the Comptroller of the Currency to advance the chartering of crypto-native trust banks.
The contrast with other exchanges highlights how regulatory positioning is increasingly shaping market outcomes. Earlier, Bybit announced plans to phase out services for Japanese residents starting in 2026, citing the country’s strict licensing requirements and its lack of registration with Japan’s Financial Services Agency. The decision followed an earlier halt to new user registrations in Japan and underscores how compliance hurdles in certain jurisdictions are prompting some global platforms to exit, even as others like OKX prioritize licensed expansion as a growth lever.
Licensing Becomes a Competitive Advantage
The exchange’s regulatory-first approach stands out as more platforms move to secure formal approvals in major jurisdictions. MiCA, which became fully applicable to exchanges in December 2024, introduced a unified licensing system across the European Union. Since then, several leading crypto companies have raced to obtain authorization that allows them to “passport” services throughout the European Economic Area.
OKX’s expansion has not been without challenges. In December, the exchange was among several platforms blocked in Belarus after authorities restricted access to their global websites, citing violations related to advertising rules under local media laws. The incident underscored the fragmented nature of global crypto regulation, even as other regions move toward clearer frameworks.
Taken together, OKX’s results point to a broader shift underway in the crypto industry. As regulation becomes clearer in key markets, exchanges that secure licenses early appear to be capturing disproportionate growth. For OKX, 2025 has served as a test case for whether compliance can function not just as a cost of doing business, but as a driver of scale.
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Alexander Zdravkov is a person who always looks for the logic behind things. He has more than 3 years of experience in the crypto space, where he skillfully identifies new trends in the world of digital currencies. Whether providing in-depth analysis or daily reports on all topics, his deep understanding and enthusiasm for what he does make him a valuable member of the team.
