OKX has hired former Bybit and Crypto.com executive Maxim Orlov to lead its CIS operations as the exchange expands its institutional and VIP coverage in the region.
OKX appears focused on higher-value traders and institutional relationships in the CIS region, where local coverage and client networks remain important.
Before joining OKX, Orlov spent four years at Bybit managing high-value client operations across Western Europe, the CIS, and Latin America. His experience across traditional banking and crypto spans more than 15 years.
Building a Regional VIP Team
Industry-wide, VIP tiers often generate higher margins despite lower trading volumes. OKX’s VIP tier starts at $100,000 in balance or trading volume. The exchange revised its fee structure in March 2026 as competition for institutional flow intensified among large exchanges including Bybit and Binance.
OKX is already building out the team. A Senior VIP Relationship Manager role for the CIS region is currently open, with Orlov listed as the hiring manager.
The role requires native Russian fluency and regular travel across the CIS region for in-person client meetings. The approach relies heavily on local relationships and direct client coverage rather than remote account management.
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Why the CIS Market Matters
The CIS crypto market remains active and increasingly regulated. Kyrgyzstan processed $11.3 billion in exchange volume during the first seven months of 2025 and now licenses 13 exchanges and 169 operators, according to the country’s Ministry of Economy.
Russia ranked first in European crypto adoption in 2025, according to Chainalysis, driven partly by demand for alternative payment channels amid sanctions. The market combines significant liquidity with fragmented access and varying regulatory requirements.
OKX holds a MiCA license (secured in 2025) and a Payment Institution license in Europe, giving the exchange regulated status that may appeal to institutional clients in the CIS region.
“My focus has always been the same: high-value client relationships, growing trading and deposit volumes, and building teams that actually deliver,” Orlov said in his announcement.
The hire suggests OKX is willing to invest in local VIP coverage and regional expansion rather than manage the CIS market remotely. The company is pairing that approach with European regulatory licenses and a broader regional hiring push.
How quickly the strategy translates into market share will become clearer as the CIS team expands through 2026.
