OKX Secures European Payment License, Signaling Shake-Up in Stablecoin Market

▲ European Union (EU), Tether (USDT), USDC, stablecoin payments/AI-generated image

Global cryptocurrency exchange OKX has secured a payment license within the European Union (EU), establishing a bridgehead for expanding its stablecoin services in a massive market of approximately 450 million people.

According to Cointelegraph on February 16 (local time), OKX received approval for an Electronic Money Institution (EMI) license from the Central Bank of Malta. With this license, OKX is now qualified to legally issue stablecoins and provide payment services across all 27 EU member states. The move is interpreted as a strategic step to expand its influence in the European market in line with the implementation of the Markets in Crypto-Assets (MiCA) regulation.

The license obtained through its Malta entity notably allows OKX to leverage the EU’s passporting regime, enabling it to operate in all member states without additional approvals. Based on this, OKX plans to launch euro-denominated stablecoins and various fiat-linked services, significantly enhancing accessibility for local European users. This is expected to strengthen its position not only in crypto trading but also as a practical means of payment.

Amid tightening cryptocurrency regulations, OKX’s latest move demonstrates its firm commitment to operating within established regulatory frameworks. Having already secured operating licenses in key hubs such as Türkiye and Hong Kong, the company has now reinforced its status as a global-standard exchange with a license covering the entire EU. In particular, as regulations surrounding major stablecoins such as Tether (USDT) and USDC become more stringent, this license serves as a strong competitive advantage.

Market experts predict that securing this license will act as a catalyst for accelerating capital inflows from institutional investors in Europe. For institutions seeking to manage funds within a clear legal framework, OKX’s regulatory compliance serves as a key indicator of credibility. As cross-border remittances and payment efficiency utilizing stablecoins improve, integration with the traditional financial system is also expected to deepen.

OKX plans to roll out tailored financial products reflecting the unique characteristics of the European market, further accelerating its market share expansion. As the crypto industry faces a pivotal transition into mainstream finance, OKX’s proactive regulatory response is likely to provide a decisive edge in the intensifying competition for market dominance. With the realization of an integrated digital asset financial network across Europe, user convenience is expected to be maximized.

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