OKX taps BitGo custody in major US institutional trading push

OKX has added BitGo’s Off-Exchange Settlement platform for institutional clients in the United States. The integration allows firms to trade on OKX while holding their assets in BitGo’s cold custody.

The move is designed to reduce the need for clients to pre-fund exchange accounts before trading. It also gives institutions a way to keep assets with a third-party custodian while accessing liquidity on OKX.

OKX said the setup supports capital efficiency for professional traders and firms. Under the arrangement, BitGo serves as the custodian and settlement provider for trades executed on the exchange.

Exchange targets institutional growth in the US

The BitGo integration comes as OKX continues to build its US business. The exchange reentered the US market in April 2025 and appointed former Barclays director Roshan Robert as its US CEO. Robert said institutional investors need both asset protection and trading access. 

The comments point to OKX’s effort to serve firms that want custody options outside the exchange.

ICE investment shapes OKX’s US plan

OKX’s latest step follows an investment by Intercontinental Exchange in early March. The investment valued OKX at $25 billion and gave ICE executives a board seat at the crypto exchange.

OKX Global CEO Star Xu said at the time that the partnership would help shape the company’s US strategy. He also described the exchange’s local presence as a “blank sheet of paper.” Xu said custody remains a core part of OKX’s business. 

Moreover, BitGo has offered off-exchange settlement services for several years. The platform supports settlement for digital asset trades made on third-party exchanges while assets remain under BitGo custody.

However, BitGo has also disclosed risks tied to the service. In its January IPO filing, the company cited operational, regulatory, and counterparty risks.