Relationship Between BiYing Exchange and OKX Platform
BiYing Exchange and OKX Platform are two independently operated trading platforms in the cryptocurrency market. There is no direct connection between them in terms of brand, operating entity, or development history; they are not the same company or products under the same umbrella. OKX Platform officially rebranded from OKEx to OKX in January 2022, while retaining its Chinese name, Ouyi.
OKX Platform Overview
OKX Platform is a globally renowned cryptocurrency exchange and Web3 technology company, offering a wide range of crypto asset trading and ecosystem services.
Establishment and Development History
- Founding and Rebranding: OKX was founded by Star Xu in 2017. The platform officially rebranded from OKEx to OKX in January 2022, retaining its Chinese name Ouyi.
- Global Presence and Compliance: OKX is headquartered in Seychelles, with branches in Dubai, Singapore, Turkey, the Netherlands, the UK, Australia, and other locations. As of the time of writing, the platform has obtained regulatory licenses such as the Dubai VASP license and the Australian AFS license.
- US Market: In April 2025, OKX relaunched operations in the United States and moved its headquarters to San Jose.
- European Market: In January 2026, OKX launched the "OKX Card," a cryptocurrency debit card, in the European market.
- Strategic Investment: In March 2026, Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE), made a strategic investment in OKX, valuing the company at approximately $25 billion. This partnership includes ICE licensing OKX's spot cryptocurrency price data to develop US-regulated crypto futures products.
- Technological Innovation: In March 2026, OKX released "OnchainOS," an open-source toolkit designed for building on-chain AI Agents.
- Compliance Actions: As of September 2026, OKX is intensifying its crackdown on gambling-related cryptocurrency deposits. Deposits from high-risk addresses may trigger extended anti-money laundering reviews and could lead to restricted account functionality.
Core Functions and Products
OKX offers comprehensive cryptocurrency services, including:
- Trading Services: Supports spot trading, margin trading, contract trading (perpetual contracts, delivery contracts), and options trading, among other derivatives.
- Unified Account System: Provides a unified account model, allowing users to share collateral across different product types, enhancing capital utilization efficiency.
- Web3 Ecosystem: Features a powerful built-in Web3 wallet that supports over 60 blockchain networks and integrates a DApp browser, DeFi (Decentralized Finance), and NFT (Non-Fungible Token) marketplace.
- Earn Services: Offers various products for earning passive income, such as staking, lending, and dual-currency investment.
Market Position and Data
- User Base: According to August 2026 data, OKX has over 50 million global users.
- Market Ranking: According to CoinMarketCap data, OKX ranks highly in terms of traffic, liquidity, trading volume, and the legitimacy confidence of reported trading volume. By trading volume, OKX is the second-largest cryptocurrency exchange globally and also ranks among the top in derivatives trading.
- Company Valuation: After receiving a strategic investment from Intercontinental Exchange (ICE) in March 2026, the company's valuation reached approximately $25 billion.
Fee Structure
OKX's trading fees are competitive:
- Spot Trading: Maker fees are typically around 0.08%, and Taker fees are around 0.10%.
- Derivatives Trading: Maker fees are approximately 0.02%, and Taker fees are approximately 0.05%.
- Fee Discounts: Users holding the exchange token OKB can enjoy fee discounts. The higher the trading volume or OKB holdings, the lower the fees.
Security and Customer Support
OKX emphasizes user asset security, employing a multi-signature cold and hot wallet storage solution and regularly publishing Proof of Reserves (PoR). The platform provides 24/7 customer support services.
Challenges and User Reviews
OKX has also encountered some challenges and received user feedback during its development:
- Compliance Challenges: In February 2025, OKX admitted to violating US anti-money laundering (AML) laws and paid over $500 million in fines.
- User Account Freezes: In July 2025, some users reported their accounts being erroneously frozen due to suspected fraud, which drew public attention.
- Regional Restrictions: In certain countries and regions, OKX's services may be restricted or subject to regulatory uncertainties. Users must comply with local laws and regulations.
- User Reviews: User ratings on Trustpilot indicate that some users have reservations about their service experience. However, many users also praise its rich features, powerful trading tools, clean mobile application interface, and integrated Web3 ecosystem.
