OKX, a leading name in the cryptocurrency exchange world, has evolved significantly since its inception. Many know the platform, but few are familiar with the visionary behind it. This article delves into the history of OKX and its founder, Star Xu, providing a clear overview of his background and the exchange's development.
The Origins and Evolution of OKX
OKX first emerged in 2013 as OKCoin.cn, a Bitcoin trading platform based in China. It quickly gained traction, leading to the launch of an international version, OKCoin.com, which continues to operate in some markets as a fiat-supported exchange. A few years later, the fully digital asset platform OKEx was introduced, marking a significant shift in the company's strategy.
Since its launch, OKEx expanded aggressively into new markets, including the European Union, the United States, and Latin America. In a major rebranding effort, OKEx was renamed OKX, signaling a comprehensive upgrade and a renewed focus on global outreach. Today, OKX stands as a prominent player in the crypto space, serving millions of users worldwide.
Who Is the Founder of OKX?
OKX was founded in 2017 by Star Xu (徐明星). Initially registered in Belize, the platform introduced its native token, OKB, in January 2018. OKB was designed and launched by the OKEx development team under the OK Blockchain Foundation. By July 2018, the company had relocated its registration to Malta, establishing a local office and recruiting talent there.
The platform continued to innovate, launching its Yu Bao Bao product in November 2018—a flexible savings feature allowing users to earn interest on their digital assets. In February 2020, OKEx unveiled the testnet for its public chain, OEC. A year later, in February 2021, OKEx adopted the Chinese name "欧易" (Ou Yi) and embraced a new mission: "To Respect Individual Value" and a vision of "Enabling 100 Million People to Own Digital Assets." This marked the beginning of its global strategic layout.
In January 2022, OKEx was officially rebranded as OKX. Headquartered in Belize with its main operational hub in Hong Kong, OKX is an international company focused on blockchain technology and digital asset development. Since its establishment in 2014, OKX has attracted millions in investments from leading firms, building a solid foundation that drew top-tier technical and business experts. This expertise has enabled OKX to offer secure, stable, and reliable trading services over the internet.
Today, OKX serves millions of users across more than 100 countries, with a daily trading volume averaging around $6 billion.
A Closer Look at OKX Founder Star Xu
Star Xu, the founder of OKX, has a strong technical background. Holding degrees in physics and mathematics, he previously worked at Yahoo China and is considered a pioneer in blockchain technology. An interesting note: Changpeng Zhao (CZ), the founder of Binance, once joined OKCoin as a co-founder and CTO, managing the technical team before leaving to establish Binance.
OKX experienced rapid growth through derivatives trading. In its founding year, it launched Bitcoin futures contracts, becoming one of the earliest exchanges to offer such products. With a wide variety of futures and contract trading options, derivatives now account for approximately three-quarters of OKX's total trading volume.
While OKX's spot trading volume ranks outside the top ten globally, it holds the second position in derivatives trading volume, just behind Binance. In terms of market variety, it is even the global leader, demonstrating strong capabilities in contract trading (data sourced from CoinMarketCap).
Over time, OKX has built a comprehensive ecosystem around spot and derivatives trading, including mining pools, lending services, and Jumpstart—a platform for launching new tokens. By leveraging its expertise in spot markets, OKX offers users opportunities to trade futures, perpetual contracts, and options. Additionally, the platform has expanded to include an earnings section, an NFT marketplace, and crypto lending services. Each new feature provides traders with unique ways to trade, hedge, earn, and explore the cryptocurrency market.
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Frequently Asked Questions
Who is the founder of OKX?
OKX was founded by Star Xu (徐明星) in 2017. With a background in physics and mathematics, Xu is a seasoned technologist and a pioneer in the blockchain industry.
What is the difference between OKEx and OKX?
OKEx was the original name of the platform before it underwent a comprehensive rebranding in January 2022. The change to OKX reflected a renewed focus on global expansion and a broader mission centered on individual value and digital asset adoption.
What services does OKX offer?
OKX provides a wide range of services, including spot trading, derivatives trading (futures, perpetual contracts, options), savings products, crypto lending, an NFT marketplace, and a token launchpad called Jumpstart.
How does OKX compare to other major exchanges?
While OKX's spot trading volume is not in the global top ten, it is a leader in derivatives trading, ranking second only to Binance. The platform is known for its strong contract trading capabilities and diverse market offerings.
Is OKX available worldwide?
Yes, OKX serves users in over 100 countries, including regions like the European Union, the United States, and Latin America. However, users should always check local regulations to ensure compliance.
What is OKB?
OKB is the native utility token of the OKX ecosystem. It was launched in 2018 and is used for various purposes within the platform, including fee discounts, voting, and accessing exclusive features.