CoinDesk interviews OKX President Hong: Global expansion plans

Against the backdrop of the accelerated evolution of the global cryptocurrency ecosystem, OKX is advancing its global layout at an unprecedented pace. Recently, OKX President Hong accepted an exclusive interview with CoinDesk at the "Consensus Hong Kong 2025" conference to discuss OKX's pioneering role in the retail and institutional markets in Dubai and around the world, and shared her observations on the booming cryptocurrency community in Asia. At the same time, she also elaborated on OKX's future global expansion plans, demonstrating her firm belief in the long-term development of the industry.

According to Hong: "In Dubai, we are the first and probably the only exchange that can provide derivatives trading services to both retail and institutional users. Similarly, in Australia, we are also able to operate in compliance and provide services to users. This is what we are constantly working towards - to provide a more comprehensive, compliant and reliable product for a wider range of institutional users. We are full of confidence in this."

Below is the full interview:

CoinDesk: Our guest is Hong, President of OKX. Hello! Just now Andy and I were talking about New York, and the three of us also got together in Dubai. So, let's move on to Hong Kong. What does it mean for you to have OKX appear at the Consensus Conference today?

Hong：We have always attached great importance to the Asian market. Asia is an important region in our strategic layout and has a unique community ecology. We have built a strong team in Hong Kong and are committed to promoting the development of the local crypto ecosystem. It is really exciting to be here to communicate with industry partners and feel the warm atmosphere of the conference.

CoinDesk：At present, the enthusiasm of the retail market for cryptocurrencies remains high. The crypto market has grown from an initial hobby to a huge financial system with a scale of trillions of dollars. The total trading volume in November and December last year alone exceeded 10 trillion US dollars, which is quite amazing. The crypto market is more inclined to trading than trading, which undoubtedly benefits exchanges like OKX. So, in the past 12 to 18 months, what changes have occurred in the behavior patterns of your main user group, retail users?

Hong：Globally, crypto users in different regions show different behavior patterns. Trading activities in the Asian market are indeed relatively more active, but at the same time, there are also a large number of traders among Asian retail users who are looking for long-term trading opportunities. For example, Bitcoin, Ethereum, and other Layer 1 assets are all options for them to hold for the long term. In addition, the market also maintains a healthy interest in yield products, whether on-chain or in other forms of yield products. This part of the demand may not be as prominent as the trading market, but it is always there.

CoinDesk: It is very encouraging to hear such trends. After all, those who are keen on trading in their 20s may have started a family and established a career ten years later in their 30s. Their trading strategies will naturally be more inclined to long-term planning, right?

Hong: Indeed. In the past 12 months, we have also observed some new trends in our products. In addition to the compliant products provided by OKX on centralized exchanges, the use of Web3 self-custodial wallets has also grown significantly. The self-custodial wallet we launched is powerful and can meet user needs in one stop. It is worth noting that this product has quickly become popular in our community and the adoption momentum is very strong.

CoinDesk: So the number of people using self-custodial wallets now even exceeds that of centralized exchanges, right?

Hong：If you look at the total amount of assets of both, it is indeed the case.

CoinDesk：Does this phenomenon surprise you?

Hong：To be honest, we did not expect this situation 12 months ago. But we have been continuously investing in product research and development and infrastructure construction. Whether in the field of CEX or DeFi, we insist on being market-oriented. At the same time, we also attach great importance to community building. Whether it is local community activities in compliant markets or exchanges within various Web3 vertical communities and protocols, we have invested a lot of energy. Most importantly, we listen to user feedback and turn it into motivation for product optimization. These efforts have finally paid off.

CoinDesk：When talking about "community", we usually think of Web3 game projects or active groups on Telegram and Discord. In contrast, exchanges seem to rarely emphasize community. So, how do you define "community"? And how do you build the OKX community globally?

Hong: Community building is one of the core values ​​of our exchange. We not only provide trading products, but more importantly, we create value for users. This is the only reason for our existence. Therefore, we attach great importance to localized operations so that users can truly feel our services. For example, in the CEX business, we have made important progress in the compliance process in the past year - Singapore and Australia have obtained licenses, and in the European Economic Area (EEA), we have successfully obtained business licenses in 28 countries. This is an important step towards localized services, that is, providing users with a compliant and reliable trading experience. In the Web3 field, we focus on the needs of the crypto-native community, such as interest in different public chains and different assets. Our goal is to integrate liquidity through technical means, meet user needs, and help them achieve their trading goals in a responsible way. This is our mission.

CoinDesk: Indeed, now users can spend more time in wallets and exchanges and access more products, which will also bring new liquidity trends and attract institutional traders. So, in terms of institutional services, how does OKX expand its business, especially under the restrictions in areas such as lending, how to attract hedge funds and professional traders?

Hong: The institutional market has always been one of our core businesses. We serve many institutional users around the world, including Asia, Europe and Latin America. OKX's competitive advantage lies in its ability to provide high liquidity and innovative institutional-grade trading products. In the next 12 to 24 months, we will continue to invest resources to further expand our compliance business based on the existing CEX infrastructure. For example, we have obtained relevant licenses in Dubai and Australia, and have expanded to 28 countries in the European Economic Area. Many institutional traders not only want to use offshore trading products, but also look for compliant and regulated crypto products. OKX has unique competitiveness in this area. For example, in Dubai, we are the first and currently the only exchange that provides both retail and institutional-grade derivatives trading; in Australia, we can also serve large and institutional users. Our goal is to provide more comprehensive, compliant and reliable products to cover a wider range of institutional users.

CoinDesk: You mentioned derivatives, and perpetual contracts seem to be sweeping the entire market. They are not only interesting, but also an efficient and powerful financial tool. At the same time, your options products have also attracted much attention. How does OKX ensure that users can use these complex products correctly and avoid unnecessary risks?

Hong: For regulated markets, we always ensure strict compliance processes to confirm the identity of qualified traders. In markets without regulatory requirements, we work with partners to provide trader education, help users do due diligence, and protect their own interests. Our goal is to cultivate responsible traders so that they can benefit from long-term trading. OKX does not pursue short-term profits. We will not bet against users, and we don’t want them to suffer huge losses in market fluctuations. Therefore, user education will be the focus of our continued investment.

CoinDesk: OKX is accelerating its global expansion. What is the next plan?

Hong: We are advancing the layout of multiple markets, including the United States. We hope to complete the brand reshaping this year and officially enter the market as "OKX". The European market is a long-term challenge. We have obtained the EEA license, but each country has different regulatory requirements and needs further localization. In addition, we are also launching localized products for the Singapore, Australia and Dubai markets, such as fiat currency top-ups and trading robots, to provide more abundant trading tools in a compliant manner.

CoinDesk: Finally, what event are you most looking forward to at the Consensus Conference today? Will you go to the horse racing?

Hong: Let's see if I can make it through the whole day, haha. I'm looking forward to it.

CoinDesk: Thank you very much for sharing today.

Disclaimer 

This content is for reference only and does not constitute and should not be regarded as (i) investment advice or recommendation, (ii) an offer or solicitation to buy, sell or hold digital assets, or (iii) financial, accounting, legal or tax advice. We do not guarantee the accuracy, completeness or usefulness of such information. Digital assets (including stablecoins and NFTs) are subject to market fluctuations, involve high risks, may depreciate in value, or even become worthless. You should carefully consider whether trading or holding digital assets is appropriate for you based on your financial situation and risk tolerance. Please consult your legal/tax/investment professionals for your specific situation. Not all products are available in all regions. For more details, please refer to the OKX Terms of Service and Risk Disclosure & Disclaimer. The OKX Web3 mobile wallet and its derivative services are subject to separate terms of service. Please be responsible for understanding and complying with local applicable laws and regulations.