OKX has taken a key step to secure its footing in Europe by obtaining a payment institution license in Malta.
The move ensures the exchange can continue offering stablecoin-based payment services across the European Union once new regulations come into force in March.
The approval brings OKX in line with the EU’s Markets in Crypto-Assets (MiCA) framework and the updated Second Payment Services Directive (PSD2). Under the new rules, crypto firms handling stablecoin payments, classified legally as electronic money tokens, must hold specific authorization to operate.
OKX is signaling its intent to stay compliant and competitive in a region that is rapidly tightening oversight of digital asset businesses, by locking in the license early.
Regulatory approval key to everyday crypto payments push: OKX
Erald Ghoos, CEO of OKX Europe said the company’s recent push into everyday payment products makes regulatory approval essential.
OKX has rolled out services such as OKX Pay and the OKX Card, designed to let users spend stablecoins more easily in daily transactions.
By securing a Payment Institution license, Ghoos said, the company ensures the offerings operate on solid legal ground within Europe.
At the end of last month, OKX took the project a step further by launching a crypto payment card in partnership with Mastercard. This brought digital assets and traditional payment networks even closer together.
The exchange has been very clear about its belief that stablecoins will be a big part of regular finance.
OKX Ventures, the company’s investment arm, recently backed the stablecoin issuance platform STBL, which shows that the company is still committed to the growth of the sector.
OKX secures EU MiCA license through Malta in January 2025
OKX secured its required Markets in Crypto-Assets (MiCA) license in the European Union through Malta in January 2025.
At the time, the exchange said it was among the first crypto platforms to successfully complete the EU’s new regulatory approval process under the MiCA framework.
Additionally, OKX says 2025 has been a breakout year for its regulated business. Trading volume in markets where it holds licenses surged 53 times, fueled largely by its expansion into the U.S. and the European Economic Area.
User growth also picked up sharply. The exchange reported that daily active wallets doubled compared to last year, with around 190,000 new wallets being created on average each day.
Activity on its decentralized exchange platform grew even faster, with global DEX volume jumping 262 percent, showing rising appetite for on-chain trading. At the same time, trading volumes on centralized exchanges rose by 16 percent, which shows that the traditional exchange side of its business was growing more steadily.