Seychelles-based cryptocurrency exchange OKX has achieved a significant milestone by securing pre-authorization under the Markets in Crypto-Assets Regulation (MiCA). This move positions OKX as a pioneering Virtual Financial Assets (VFA) exchange in Europe.
In addition, it will prepare the trading platform for expansion across the European Economic Area (EEA), comprising thirty member states. In a nutshell, the pre-authorization, obtained from Malta’s financial regulator, sets the stage for OKX to enhance its offerings to over 400 million Europeans through its Malta-based hub.
According to the press release relaying the new development, Malta was chosen for its robust regulatory framework and reputation as a hub for blockchain technology. OKX currently holds a Class 4 VASP license from the Malta Financial Services Authority (MFSA), further solidifying its position as a trusted provider of crypto services.
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
OKX Plans for Customers
Under MiCA regulations, OKX plans to introduce a range of regulated products, including over-the-counter (OTC) trading, spot trading, and bot trading. The exchange will support more than 240 cryptocurrencies and over 260 trading pairs, including 60 Euro-based pairs. To cater to local preferences, OKX will customize its website and mobile app with language options, local currency displays, and customer support in various European languages.
In addition to its advanced trading platforms tailored for both beginners and experienced traders, OKX offers high liquidity and reliability with industry-leading technology boasting 99.99% uptime. The exchange emphasizes transparency with Proof of Reserves and ensures seamless fiat transactions with free euro deposits and withdrawals via bank transfers and other local payment methods.
With a global customer base exceeding 60 million, OKX aims to redefine the crypto experience in Europe by combining regulatory compliance with user-friendly innovations. The expansion under MiCA marks a strategic advancement towards establishing OKX as a cornerstone of the European crypto landscape, ensuring secure and accessible digital asset services for all levels of investors.
As OKX continues to navigate the regulatory landscape and expand its footprint, the exchange remains focused on delivering secure, transparent, and compliant crypto solutions to customers worldwide.
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