OKX, BitGo launch off-exchange settlement for U.S. institutions

OKX has integrated BitGo’s Off-Exchange Settlement (OES) platform for its U.S. institutional clients, the companies announced Thursday. The integration lets institutions trade on OKX while keeping assets in BitGo cold custody and removes the need for pre-funding.

The connection routes trade instructions to OKX’s matching engine while settlement occurs off the exchange through BitGo’s custody infrastructure. Institutions can place orders on OKX without transferring assets onto exchange wallets before settlement, freeing capital that would otherwise be held as pre-funded collateral.

The integration is one of OKX’s first major U.S. infrastructure actions since Intercontinental Exchange took a stake in OKX in early March at a $25 billion valuation and joined the exchange’s board. OKX re-entered the U.S. market in April 2025 and named Roshan Robert, a former Barclays director, as its U.S. CEO.

Roshan Robert, OKX U.S. CEO, said institutional capital requires protection and productive use and described the partnership with BitGo as giving clients flexibility in how they secure assets while freeing capital for deployment. OKX Global CEO Star Xu emphasized that protecting customer assets remains a priority and that adding custody partners gives clients more choice.

BitGo has offered off-exchange settlement services for several years and acts as both custodian and settlement facilitator for trades executed on third-party platforms. In its IPO filing, BitGo identified risks tied to OES, including operational, regulatory and counterparty risks, and listed potential issues such as errors in processing trade data, delays or failures in asset transfers, insider misconduct, cybersecurity incidents, technological disruptions and reconciliation mistakes.

Exchanges and custodians have been building integrations to address institutional concerns about asset safety and to enable larger, more efficient flows of capital. For custodians, providing off-exchange settlement services positions them as intermediaries for high-value trades that require custody controls and compliance processes.

With the BitGo connection, OKX offers U.S. institutional clients the option to trade without placing assets on exchange wallets, allowing firms to keep assets in cold custody while pursuing greater capital efficiency.