OKX exchange secures a MiCA license

OKX has become one of the first cryptocurrency exchanges to receive a MiCA (Markets in Crypto-Assets) license, allowing it to operate across Europe. This license enables OKX to expand its services to 28 countries in the European Economic Area (EEA), reaching over 400 million users with fully regulated offerings.

With the MiCA authorization, OKX enhances its credibility in the European market. The exchange will establish its European hub in Malta, providing a secure platform for various trading services, including OTC, spot, and bot trading. Users can access more than 240 cryptocurrencies and 60 euro trading pairs, with free bank transfer deposits and withdrawals. Local payment options will also be available.

The MiCA license provides passporting rights, allowing OKX to operate in multiple EU countries under one regulatory framework. This simplifies its expansion and ensures compliance with European laws. OKX aims to offer localized services, including multilingual platforms, region-specific payment options, and customized customer support.

Erald Ghoos, CEO of OKX Europe, emphasized the importance of the MiCA license. He stated that it reflects their commitment to secure and transparent crypto services across the EEA. By supporting local languages and currencies, OKX aims to make crypto trading more accessible for everyone.

Obtaining the MiCA license took over a year. OKX had to update its policies, restructure teams, and modify products to meet the requirements. The exchange actively participated in industry discussions and improved its compliance framework.

OKX submitted its full MiCA application on September 1, 2024, and received its license on January 27, 2025, after fulfilling all conditions set by the MFSA. The exchange's existing VFA Class 4 license in Malta facilitated a smoother transition to MiCA compliance.

Currently, OKX serves over 60 million clients globally and continues to expand its centralized and decentralized platforms. In 2024, it launched services in seven new countries and obtained four additional licenses.

MiCA is a new EU regulation aimed at standardizing rules for crypto businesses, set to take full effect in mid-2025. It seeks to protect investors and ensure financial stability. By achieving MiCA compliance, OKX positions itself as a leader in the European crypto market.