In a groundbreaking move, OKX has become one of the first global cryptocurrency exchanges to receive a MiCA (Markets in Crypto-Assets) license, allowing it to passport its services across 28 European Economic Area (EEA) countries. This achievement marks a significant expansion for the exchange, now offering fully regulated, localized crypto services to a market of over 400 million Europeans.
With its EEA hub based in Malta, OKX ensures a seamless user experience, providing local payment methods, multi-language support, and a diverse range of crypto trading options. This milestone solidifies OKX’s position as a leading platform for both beginner and advanced traders in Europe.
What the MiCA License Means for OKX and European Users
The MiCA license grants OKX the ability to operate under a unified regulatory framework, simplifying access to crypto services for millions across Europe. The exchange can now legally expand and provide trading services in countries including Germany, France, Spain, Italy, and Sweden, ensuring compliance with the region’s stringent financial regulations.
With this license, OKX customers can enjoy:
- Over 240 cryptocurrencies and 60+ Euro-based trading pairs.
- Free EUR deposits and withdrawals via bank transfers.
- Secure and transparent trading infrastructure, including OTC, spot, and bot trading.
- Localized support, including multi-language platforms and local currency options.
- Diverse local payment methods, making crypto purchases easier than ever.
OKX’s European CEO, Erald Ghoos, emphasized the company’s commitment to compliance and accessibility, stating:
“Securing the MiCA license and achieving passporting rights underscores our unwavering commitment to providing secure, transparent, and localized crypto services across the EEA. With support for local languages, currencies, and payment methods, we are making crypto trading more accessible than ever.”
How OKX Achieved MiCA Compliance
Gaining a MiCA license is no small feat. The process required over a year of preparation, including policy updates, procedural enhancements, and regulatory engagement. OKX worked closely with industry experts, participated in regulatory consultations, and strengthened its compliance framework to meet the high standards set by the European Securities and Markets Authority (ESMA).
Key Steps in OKX’s MiCA Licensing Process:
- September 1, 2024: OKX submitted its full MiCA application.
- January 27, 2025: The exchange received MiCA pre-approval after meeting all requirements.
- February 18, 2025: OKX announced its passporting rights, making its services available across Europe.
Already holding a VFA Class 4 license from Malta’s financial regulator, OKX had a head start in compliance. This existing license, the highest available in Malta, made the transition to MiCA relatively smooth.
OKX has been expanding aggressively, launching in seven new markets and securing four new licenses in 2024 alone. With over 60 million users worldwide, the exchange continues to be a major player in both centralized (CEX) and decentralized (DEX) crypto trading.
Why MiCA Matters: A Game-Changer for Crypto in Europe
The Markets in Crypto-Assets (MiCA) regulation, set to be fully implemented by summer 2025, is a landmark framework designed to protect investors from fraud and market manipulation, establish clear regulatory guidelines for crypto exchanges and service providers, and ensure financial stability by reducing systemic risks in the crypto market.
For European traders and investors, MiCA provides a level of trust and security previously missing in the crypto space. By choosing a MiCA-licensed exchange like OKX, users benefit from stronger consumer protections and transparency, regulated, fraud-resistant trading environments, and seamless cross-border crypto services.
Crypto.com has become the first global crypto platform to secure a full MiCA license, allowing it to legally operate across the European Economic Area (EEA). This regulatory approval strengthens investor confidence, enhances transparency, and expands Crypto.com’s services across 27 EU nations.Read Now
Last month, Crypto.com was the first exchange in the world with a full MiCA license. Similarly to OKX, it was also granted in crypto-friendly Malta. Bitget exchange didn’t post any news about it lately, but the exchange recently launched a local hub in Lithuania in preparation for MiCA compliance.
What’s Next for OKX in Europe?
- With passporting rights secured, OKX is scaling its presence across Europe. The exchange is focusing on:
- Expanding payment options to make crypto purchases even easier
- Enhancing multi-language customer support for better user experience
- Rolling out new products tailored for European traders
Whether you’re experienced with crypto or just starting, OKX will offer you a secure, regulated, and user-friendly platform tailored for European users.
