NEWSROOM

As part of its strategy to become the leading crypto asset exchange in the European Union (EU), OKX announced that it has selected Malta as its Crypto Asset Markets (MiCA) hub.  

Known for its forward-thinking and comprehensive regulations in the blockchain and cryptocurrency space, Malta is an ideal location for OKX to offer its services to EU citizens. After evaluating various locations, OKX chose Malta due to the country's advanced regulatory standards and strong infrastructure, as well as the company's existing team in the country. OKX's local subsidiary Okcoin Europe Ltd. holds a Class 4 Virtual Financial Asset (VFA) Service Provider License issued by the Malta Financial Services Authority (MFSA) since 2021.

OKX believes that the crypto sector will be subject to even more regulation in the future. The company is adopting a "local" model in Europe. As such, it invests in regulatory compliance, risk management and institutionalization to achieve its goal of becoming one of the most accessible and trusted crypto venues.

Under the MiCA framework, OKX plans to offer spot trading (including EUR and USDC pairs) as well as buying, selling, converting and staking services to eligible EU citizens through Okcoin Europe Ltd. Once fully active on December 30, 2024, MiCA will allow crypto asset exchanges to migrate to EU countries and offer a variety of services across the EU.

Erald Ghoos, Managing Director of Future Europe at OKX, said in a statement: "We have established our MiCA headquarters in Malta as it allows us to offer our world-class products to many different customers across Europe. The new regulations, which protect users while supporting the sustainable development of the crypto sector, also allow us to increase our investment and employment in Europe in the long term. Malta is known for prioritizing customer security and was the best place to establish our MiCA center."

The MiCA center in Malta represents another important step in OKX's growth, following the launch of its crypto exchange and Web3 wallet in the Netherlands and Turkey in 2024.

For more information, please visit okx.com.