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%Cryptocurrency exchange %OKX is reportedly planning an initial public offering in the U.S.

Although not widely known, OKX is a San Jose, California-based blockchain technology company that operates the second-largest cryptocurrency exchange in the world in terms of daily trading volume.

Privately held %Binance remains the world's biggest crypto exchange by trading volume.

Now, OKX is considering a U.S. IPO, likely on the Nasdaq Composite exchange, following the recent success of the %Stablecoin issuer %Circle (NYSE: $CRCL ) IPO.

OKX's potential IPO comes as the exchange faces regulatory issues in Asia.

In May of this year, Thailand's securities regulator blocked OKX from operating in the country alongside four other exchanges.

OKX relaunched its crypto exchange in the U.S. this April after paying a $500 million U.S. fine to the Department of Justice over allegations it served American customers without a money transmitter license.

OKX is now positioning itself as a compliant, security-focused platform under new U.S. CEO Roshan Robert, who is leading the company's expansion in America.

Despite the setbacks, management at OKX have reportedly concluded that now is a good time to go public with cryptocurrency prices rising amid strong interest in digital assets.

The stocks of other crypto exchanges have seen significant gains in the past few weeks, with the share price of %Coinbase Global (NASDAQ: $COIN ) up 17% to $308.38 U.S. a share in the last month.

Several other cryptocurrency firms are rumored to be planning IPOs this year, including crypto-focused prime brokerage FalconX and crypto exchange Geminin, which is led by twin brothers Cameron and Tyler Winklevoss.

%Bitcoin (CRYPTO: $BTC ), the largest cryptocurrency by market capitalization, is currently trading around $101,000 U.S., having gained 2% in the past 24 hours.