OKX Secures MiCA License, Expands Presence in Europe
OKX has made history as one of the premier crypto exchanges to secure authorization to offer its services all over Europe. The trading platform recently obtained a MiCA (Markets in Crypto-Assets) license, solidifying its position in the market.
This significant achievement means that OKX is now poised for expansion in the European market, enhancing its reputation as a trustworthy partner for investors and traders in Europe.
With the MiCA license in hand, OKX is set to penetrate 28 countries within the European Economic Area (EEA), providing fully regulated and localized crypto services to over 400 million Europeans. Operating from its European hub in Malta, OKX will offer a secure and reliable infrastructure for clients, including services like OTC trading, spot trading, and bot trading. Clients will have access to a wide range of over 240 cryptocurrencies and 60 trading pairs with the euro.
Users will benefit from free euro deposits and withdrawals via bank transfers and the convenience of purchasing cryptocurrencies using various popular local payment methods, including cards.
Moreover, the MiCA license grants OKX passporting rights, enabling the company to extend its services to other EU countries as long as it is registered and licensed in at least one member state. This streamlines the business expansion process, allowing OKX to operate seamlessly under a unified regulatory framework throughout the EU.
In response to the demands of local markets, OKX promises to provide a seamless user experience, offering platforms in local languages and supporting various popular local payment methods.
Upon receiving the MiCA license, OKX Europe CEO Erald Ghoos expressed the company's dedication to delivering secure, transparent, and localized crypto services across the EEA. He highlighted OKX's emphasis on accessibility by supporting local languages, currencies, and payment methods, affirming OKX's position as a leading platform for both novice and experienced customers in the EEA.
The journey towards obtaining the MiCA license presented challenges for OKX, with the entire process taking over a year. The exchange underwent policy and procedure updates, team restructuring, and product enhancements to meet the stringent requirements.
OKX officially submitted its full MiCA application on September 1, 2024, and received the full MiCA license on January 27, 2025, after meeting all conditions set by the MFSA.
Building on their existing MFSA-issued VFA Class 4 license in Malta, which was the highest available license, OKX navigated the transition to the MiCA license smoothly.
Over the years, OKX has grown to serve over 60 million clients worldwide and continues to expand its offerings through both centralized and decentralized exchange platforms. In 2024 alone, OKX launched services in seven new countries, acquiring four additional licenses to strengthen its international presence.
For those unfamiliar, MiCA (Markets in Crypto-Assets) represents a new regulatory framework for the crypto market within the EU, set to go into full effect in the summer of 2025. The regulation aims to establish consistent standards and rules for crypto companies operating in the EU, prioritizing investor protection and market stability.
Securing a MiCA license requires meeting strict criteria, with Crypto.com being the first crypto exchange to obtain this license.