financemagnates.com
OKX, a global blockchain technology company, announced today (Thursday) that it is the first Virtual Financial Assets (VFA) exchange to secure 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
"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 aims to obtain the full MiCA license and passport it from its 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.
Upon receiving a full MiCA license, the firm will offer localized crypto services to over 400 million Europeans through its European Economic Area (EEA) hub based in Malta.
The OKX website and mobile app will feature customization in local languages, local currency displays, and local-language customer support across the region.
A new alternative for Europe 🇪🇺
— OKX (@okx) January 23, 2025
We’re proud to be the first global exchange to receive a MiCA pre-authorization.
This demonstrates our continued dedication to regulation, responsible growth & customer protection.
Learn more: https://t.co/nfnU1rssXR pic.twitter.com/H1WbuLTTBy
"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 and stands as a leader in advanced and reliable cryptocurrency services, offering both centralized (CEX) and decentralized (DEX) exchange platforms.