OKX Europe, a MiCA-approved platform, says it now offers a way to support USDT on accounts and then migrate these stablecoins to USDC. USDT is the largest stablecoin in the world by market cap, issued by Tether. USDC is issued by Circle and ranks 2nd but is growing rapidly. USDT is yet to be approved in Europe, while USDC is authorized.
The MiCA transitional period, which provided time for platforms to abide by the rules, ended on July 1, 2026.
OKX notes that USDC is already the most liquid MiCA-regulated stablecoin across Europe’s order books.
Tether has not received the required electronic money token (EMT) authorization, and in the EU, crypto exchanges and platforms are legally prohibited from offering, listing, or trading USDT. Many platforms have eliminated USDT as an option. It has been reported that USDT views European requirements as overly restrictive.
Erald Ghoos, CEO of OKX Europe, says that
“Most USDT holders in Europe are getting squeezed in two ways: platforms blocking the deposit outright, or converting it on their own clock. We are offering a way to convert on your terms, and stay in crypto while you do it.”