- OKX will use the license to offer localized crypto products and services across the European Economic Area.
- The MiCA pre-authorization was secured from the Malta Financial Services Authority (MFSA).
Crypto exchange OKX has received pre-authorization as a Virtual Financial Assets (VFA) exchange under the European Union’s Markets in Crypto-Assets (MiCA) regulation.
On Jan. 23, the exchange announced it secured pre-authorization from the Malta Financial Services Authority (MFSA).
The milestone comes ahead of an anticipated approval for a full MiCA license. Once the firm secures the full license, it will roll out its suite of crypto products and services – all localized and accessible to millions of people across the European Economic Area (EEA).
OKX will use the MiCA license to passport its services from the Malta hub, targeting the EEA region’s 30 member states.
“Securing pre-authorization for the MiCA license is a major milestone that further validates OKX’s mission to lead and build responsibly in the global crypto space. 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,” said OKX Europe chief executive officer Erald Ghoos.
The license will allow the exchange to expand access to its regulated crypto products, with customers benefiting from features such as spot trading, bot trading and OTC trading. OKX offers more than 240 cryptocurrencies and over 260 trading pairs.
Several exchanges and platforms have sought MiCA registration to continue offering services in the EU. This includes Crypto.com, which received an in-principle license earlier this month.
Meanwhile, some providers have announced delistings or temporary exits after the comprehensive regulations came into full effect at the end of December 2024.
