OKX, a global blockchain technology company, secured a Markets in Crypto-Assets Regulation (MiCA) pre-authorization. The license allows customers in the region access to OKX's regulated crypto exchange products. These include OTC trading, spot trading, and bot trading for over 240 cryptocurrency tokens across more than 260 trading pairs and over 60 Euro-based trading pairs.
OKX Secures MiCA Pre-Authorization
"OKX will be the go-to digital asset platform for both retail and institutional customers in Europe for any digital asset offering under a fully regulated framework," OKX Europe CEO, Erald Ghoos, said.
OKX is working towards obtaining a full MiCA license, which it plans to passport from its Malta hub to all 30 EEA member states. Passporting, under MiCA regulations, allows businesses licensed in one EU country to operate in others within a unified regulatory framework.
Once licensed, the company intends to provide localized cryptocurrency services to over 400 million people in the EEA via its Maltahub. The OKX website and mobile app will include local language options, currency displays, and region-specific customer support.
A new alternative for Europe ????????We’re proud to be the first global exchange to receive a MiCA pre-authorization. This demonstrates our continued dedication to regulation, responsible growth & customer protection. Learn more: https://t.co/nfnU1rssXR pic.twitter.com/H1WbuLTTBy
— OKX (@okx) January 23, 2025
"The Malta Financial Services Authority (MFSA) is renowned for its thorough regulatory framework and is at the forefront of global regulatory standards. Through our Malta Hub, OKX customers will be offered the best, most secure and fully compliant digital asset platform." Ghoos added.
Offering Free Euro Transactions
OKX customers can deposit and withdraw euros for free through bank transfers and easily buy crypto using cards and other trusted local payment methods in the region. OKX chose Malta as its MiCA hub because of the country's comprehensive regulatory approach. OKX currently holds a Class 4 VASP license from the MFSA.
OKX serves over 60 million customers worldwide, offering both centralized (CEX) and decentralized (DEX) exchange platforms.
This article was written by Tareq Sikder at www.financemagnates.com.
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