Cryptocurrency exchange operator OK Group is taking on a new shape, rebranding all of its crypto ventures under a three-letter word OKX.
The news was announced by the chief operating officer at OK Group and president of OKX, Hong Fang.
In a lengthy post on X (formerly Twitter), the executive revealed that the rebranding to OKX will happen over the coming months. This falls in line with the January 2023 partnership where Ok Group joined forces with its long-time sister company OKX. It was also the month when Fang took on his new role in OKX as its president.
Talking about the latest change, he said: “I’ve been part of Okcoin for 5 years. Over the years, we have put a lot of love and passion into our brand and product. But we also believe it’s time for a change. Rebranding to OKX in our key operational jurisdictions will be great for our customers and business. I’m very excited about what to come next.”
The team had recently sunset the ‘Okcoin’ brand and product to sequentially rebrand it to ‘OKX’ in a few regions, like Latin America, Middle East and North Africa (MENA), South Asia.
The change will find its beginning in Singapore, followed by the European Union and finally wrapping up in the company’s home base US. Customers have been assured to receive the same set of product services under the same regulatory framework as they will just be under a new brand. More specifications will be shared with them separately.
Talking about how important the US is to the business’ global strategy, Fang said: “Despite all the challenges, we remain committed to the US as a visionary leader that upholds the standards of empowering individuals and protecting freedom with technology as it always has, and define our future as it should be.”
The business has been a recipient of multiple changes in the past. In 2021, the Okcoin logo was refreshed, connecting it back to its original mission of building the “best bridge between the past and the future”.
Reasoning out all of these changes, Fang said: “Given our own experiences, we know that if we want to be the agent for the right changes, we need to respect and celebrate differences, and have a growth mindset to transform those differences into positive energy. This philosophy was reflected both in our new product, our new brand logo and our increasingly diversified team.”
Changes were brought in as the team noticed various opportunities for internal improvement, said the COO. He then named a few like scaling the operations more effectively, serving global customers more locally, tapping into a more impactful global brand, bringing more web3 products to customers and giving them more control.
The latest move is also a continuation of Ok Group’s rebranding vision that started a year ago. In December 2022, another part of its business was renamed from OKEx to OKX. The change reflected the company’s beginnings as a crypto exchange to being a melting pot of decentralised finance, non-fungible tokens and Web3.
Calling it a “new identity for a big future”, the announcement said: “We are building so much more than a centralised exchange…..We want to venture with you into the possibilities that exist ahead of us — intersections between crypto and so many worlds we’ll enter together. Finance (DeFi) and gaming (play-to-earn) are just the starting points. That’s why we’re dropping the E and dialling up the X to pave that path. We hope this change will help the journey each of you takes through our platform, whether trading, staking or going through one of the metaverses.