Financial and Business News

OKX Secures MiCA Pre-Authorization to Expand Crypto Services in Europe

Thursday, 23/01/2025 | 14:05 GMT by Tareq Sikder
  • The firm aims to expand its services to over 400 million Europeans through its Malta hub.
  • The company currently holds a Class 4 VASP license from the MFSA.
okx

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

Erald Ghoos, OKX Europe CEO, Source: LinkedIn
Erald Ghoos, OKX Europe CEO, Source: LinkedIn

"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 Malta hub . The OKX website and mobile app will include local language options, currency displays, and region-specific customer support.

"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.

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

Erald Ghoos, OKX Europe CEO, Source: LinkedIn
Erald Ghoos, OKX Europe CEO, Source: LinkedIn

"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 Malta hub . The OKX website and mobile app will include local language options, currency displays, and region-specific customer support.

"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.

About the Author: Tareq Sikder
Tareq Sikder
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Tareq is a financial writer with 15 years of experience covering global markets. His work spans technical analysis, forex broker reviews, and market sentiment, with a focus on topics relevant to retail traders. He joined Finance Magnates in 2023. At Finance Magnates, he serves as News Editor, covering retail forex and CFD brokers, cryptocurrency exchanges, fintech firms, and regulatory developments shaping the trading industry. He holds an Honours degree in Information Technology from Anfell College, London. Education: Honours degree Information Technology, Anfell College, London

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