OK Group, a major cryptocurrency exchange operator, is undergoing a transformation by rebranding its crypto ventures under the name “OKX.” The announcement was made by Hong Fang, the Chief Operating Officer at OK Group and President of OKX, on X (formerly known as Twitter). The rebranding will involve changing the name of Okcoin, which was founded in 2013, to OKX, aligning it with OK Group’s other crypto venture, formerly known as OKEx.
In a post, Fang expressed his attachment to the Okcoin brand, stating that they have invested a lot of love and passion into it over the past five years. However, he believes that the platform’s rebranding in key operational jurisdictions will benefit both its customers and business.
The rebranding process will begin in Singapore and will sequentially extend to Europe and the United States in the coming months, according to Fang. He assured customers that they will continue to receive the same set of product services under the same regulatory framework, but will now interact with a new brand.
Fang also mentioned that OK Group has recently phased out the Okcoin brand and product in several regions, including Latin America, the Middle East and North Africa, South Asia, Hong Kong, and other areas.
The United States holds significant importance in OK Group’s global strategy, as stated by Fang. He emphasized their commitment to the country, referring to it as the home base for many team members. Fang added, “Despite all the challenges, we remain committed to the U.S. as a visionary leader that upholds the standards of empowering individuals and protecting freedom with technology, as it always has and defines our future as it should be.”
This rebranding announcement comes almost a year after OK Group rebranded another part of its business, formerly known as OKEx. In December 2022, OKEx transitioned to the name “OKX” to expand beyond being a centralized crypto exchange and encompass decentralized finance, nonfungible tokens, and Web3. OKEx was founded in 2017 by Star Xu, the CEO of OK Group.
The rebranding of OK Group’s crypto ventures reflects the company’s dynamic approach to adapt to the evolving crypto landscape. By unifying its brands under the name “OKX,” OK Group aims to strengthen its position in the market and offer a comprehensive range of services to its customers worldwide.
Overall, this rebranding initiative showcases OK Group’s determination to remain at the forefront of the crypto industry, catering to the needs of its customers while embracing new opportunities in decentralized finance and emerging technologies like Web3. As the company expands its presence in different regions, OKX is poised to continue playing a significant role in the global cryptocurrency ecosystem.