OKX announced that their platform is reportedly the first Virtual Financial Assets (VFA) exchange to secure a Markets in Crypto-Assets Regulation (MiCA) “pre-authorization.”
Upon receipt of a full MiCA license, OKX said they will offer “localized” crypto services to over 400 million Europeans via its European Economic Area (EEA) hub based in Malta.
Under the license, customers in the region will have access to our regulated crypto exchange products, including “OTC trading, spot trading, and bot trading, for 240+ cryptocurrency tokens across 260+ trading pairs, and 60+ Euro-based trading pairs.”
This milestone reinforces their commitment to delivering secure, transparent, and innovative solutions, “ensuring customers benefit from a trusted and compliant platform in Europe’s rapidly evolving crypto landscape.”
OKX also mentioned that they intend to obtain the full MiCA license and passport it “from their Malta hub to all 30 EEA member states.”
Passporting is a feature of the MiCA law that allows businesses, registered and licensed in one EU country, to “offer their services in another EU country under a unified regulatory framework.”
This expansion simplifies trading and investing in digital assets “for Europeans across the EEA region.”
With a suite of products—including a user-friendly Simple Exchange, powerful Advanced Exchange for traders, and a Wallet for crypto enthusiasts—OKX are poised to redefine “the crypto experience for all levels of customers across the EEA.”
As stated in a blog post, OKX offer reliability with innovative technology claiming “99.99% uptime, Proof of Reserves for transparency, and 240+ highly liquid tokens and trading pairs.”
OKX customers in the region can deposit and “withdraw euros for free through bank transfers, and easily buy crypto using cards and other trusted local payment methods.”
OKX says that it chose Malta as its MiCA hub because of the country’s comprehensive regulatory approach and “high standards for blockchain and cryptocurrency, as well as its strong technology infrastructure.”
OKX currently hold a Class 4 VASP license from the MFSA.
With over 60 million customers worldwide, they stand as a key player in advanced and reliable cryptocurrency services, offering both “centralized (CEX) and decentralized (DEX) exchange platforms.”
Obtaining MiCA pre-authorization marks a significant milestone in our mission to expand our footprint across Europe while “ensuring secure access to top-tier crypto services and innovations.”
As noted in the update, OKX is a technology company with a mission to organize the world’s blockchains and “make them more accessible and useful.”
OKX began as a crypto exchange giving people “access to trading and over time became among the largest platforms in the world.”
In recent years, they have developed one of the “most connected onchain wallets used by millions to access decentralized applications (dApps).”