OKX Secures MiCA Pre-Authorization for Crypto in Europe
OKX said it has become the first virtual financial assets exchange to secure a pre-authorization under the Markets in Crypto-Assets Regulation (MiCA) on Thursday, paving the way for its expansion into the European market.
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
Upon receiving the full MiCA license, OKX said it would provide localized cryptocurrency services to over 400 million Europeans via its European Economic Area (EEA) hub in Malta.
Plans to Obtain the Full MiCA License
The MiCA license will allow OKX to offer a wide range of regulated crypto products, including OTC trading, spot trading, and bot trading, featuring over 240 cryptocurrency tokens across 260 trading pairs and 60 Euro-based trading pairs.
OKX said to improve the user experience, the platform plans to localize its services, offering features such as local language support, regional currency displays, and tailored customer assistance.
This regulatory achievement marks OKX’s commitment to delivering transparent, and compliant trading platform in Europe’s dynamic crypto ecosystem.
The MiCA framework allows businesses to passport their licenses, meaning OKX will be able to offer its services seamlessly across all 30 EEA member states under a unified regulatory structure.
Why Malta?
With as its Malta hub OKX said it aims to simplify access to digital assets for traders and investors across the region.
Malta was chosen due to its robust regulatory environment, advanced technological infrastructure, and established Class 4 VASP license issued by the Malta Financial Services Authority (MFSA).
OKX said its offerings in Europe will include a “Simple Exchange” for beginners, an “Advanced Exchange” for professional traders, and a secure crypto wallet for enthusiasts.
According to th exchange, European customers will benefit from free euro deposits and withdrawals via bank transfers, along with crypto purchases through trusted local payment methods like cards.
With 60 million users worldwide, OKX’s MiCA pre-authorization marks a critical step in expanding its footprint in Europe.
By adhering to MiCA’s rigorous standards, OKX said it seeks to redefine the crypto trading experience, offering secure, and accessible services to customers of all levels across the EEA.
Source: cryptonews.com
