In Summary
OKX receives a MiCA license, expanding into 28 countries in the European Economic Area, serving over 400 million potential users.
The license grants OKX passporting rights, simplifying entry into other EU markets and ensuring consistent regulatory compliance.
OKX promises to offer customized services for Europe, including local languages, currencies, payment methods, and customer support.
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OKX has become one of the first cryptocurrency exchanges to receive authorization to offer services across Europe. The trading platform has been granted a MiCA (Markets in Crypto-Assets) license.
By receiving this license, OKX is expanding its capabilities in the European market and strengthening its reputation as a reliable partner for European investors and traders.
What the MiCA License Means for OKX
For OKX, the MiCA license provides the opportunity to expand into 28 countries within the European Economic Area (EEA). The cryptocurrency exchange can now offer fully regulated and localized crypto products and services to over 400 million Europeans in 28 countries.
Furthermore, OKX’s European hub will be located in Malta. The platform’s customers will have access to a reliable and secure infrastructure, including services such as OTC trading, spot trading, and trading bots. They will also have access to over 240 cryptocurrencies and 60 trading pairs with the euro.
Users can deposit and withdraw euros for free via bank transfers and easily purchase cryptocurrencies with cards and other popular local payment methods.
The MiCA license also grants OKX passporting rights, meaning the company can offer its services in other EU countries if it is registered and licensed in one of the member states. This significantly simplifies expansion and business development, allowing OKX to operate under a unified legal framework across all EU countries.
Meeting the needs of local markets, OKX promises to provide a seamless user experience, including platforms in local languages and support for popular local payment methods.
“Securing the MiCA license and achieving passporting rights underscores our unwavering commitment to providing secure, transparent, and localized crypto services across the EEA. With support for local languages, currencies, and payment methods, we are making crypto trading more accessible than ever. OKX is the new alternative for European crypto finance, and this milestone solidifies our position as the leading platform for both beginners and advanced customers in the EEA,” said OKX Europe CEO Erald Ghoos.
The Road to MiCA: Challenges and Achievements
The process of obtaining a MiCA license was quite lengthy. As noted by an OKX representative in a comment to BeInCrypto, the entire process took over a year. During this time, the exchange updated its policies and procedures, built the appropriate team structure, and made necessary adjustments to its products.
“The entire preparation was carried out over more than a year. That included participating in multiple industry working groups, responding to three ESMA consultation papers, updating policies and procedures, and strengthening our team in preparation for growth,” the OKX team explained.
OKX applied for a full MiCA license on September 1, 2024, and after meeting all the conditions set by the MFSA, the exchange received the full MiCA license on January 27, 2025.
OKX had a significant advantage – before beginning preparations for the MiCA license, the platform already possessed a VFA Class 4 license issued by the MFSA in Malta. This license is the highest available in Malta, so the transition to a MiCA license was a smoother process.
That VFA Class 4 license was the highest form of license available at the time, so upgrading from our VFA Class 4 license to a MiCA license was actually relatively minimal. We were already adhering to the highest standards in Europe,” the exchange representative emphasized
OKX already serves over 60 million customers worldwide and continues to develop both its centralized exchange (CEX) and decentralized exchange (DEX) platforms. In 2024, the exchange launched services in seven new countries and received four new licenses, further strengthening its position in the international market.
For those unfamiliar, MiCA (Markets in Crypto-Assets) is a new regulation for the cryptocurrency market in the European Union. This law will fully come into effect in the summer of 2025.
The main goal of MiCA is to establish unified standards and rules for cryptocurrency companies operating within the EU. This aims to protect investors, prevent fraud, and ensure the stability of the overall financial market.
To receive a MiCA license, a cryptocurrency exchange must meet several mandatory requirements. The first cryptocurrency exchange to receive a MiCA license was Crypto.com.
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