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Journalist
Tanzeel Akhtar
Journalist
Tanzeel Akhtar
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Why Trust Cryptonews
On Tuesday, crypto exchange OKX announced that it had secured approval as one of the first global exchanges licensed under the Markets in Crypto-Assets (MiCA) framework to passport its services across Europe.
In a press release shared with Cryptonews, the exchange stated that this approval enables OKX to provide fully compliant crypto offerings to over 400 million Europeans across 28 European Economic Area (EEA) member states, operating from its hub in Malta.
With passporting rights, OKX can now extend its reach across multiple jurisdictions, including the following countries: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, and Sweden.
Comprehensive and Localized Crypto Services
OKX customers across the EEA can access the platform’s infrastructure, which includes over-the-counter (OTC) trading, spot trading, and bot trading.
According to OKX, users can access more than 240 cryptocurrency tokens and trade across 300 pairs, including over 60 Euro-based pairs.
Additionally, European customers can deposit and withdraw Euros for free via bank transfers and purchase cryptocurrency using popular local payment methods.
The company said it is enhancing user experience by providing localized platforms with app and web interfaces in local languages, local currency display options, customer support in regional languages, and products designed to meet local preferences.
Regulatory Milestone with MiCA License and Passporting
OKX secured its MiCA license on January 27, 2025, joining other major exchanges such as Bitpanda and Crypto.com in operating under a unified regulatory framework across the EU.
A core feature of the MiCA framework, passporting enables businesses licensed in one EU country to extend their services across all EU member states without additional approvals.
This regulatory milestone supports OKX’s expansion of onshore operations and strengthens its commitment to providing compliant crypto services across Europe.
“Securing the MiCA license and achieving passporting rights underscores our unwavering commitment to providing secure, transparent, and localized crypto services across the EEA,” said Erald Ghoos, CEO of OKX Europe.
“With support for local languages, currencies, and payment methods, we are making crypto trading more accessible than ever. OKX is the new alternative for European crypto finance, and this milestone solidifies our position as the go-to platform for both beginners and advanced customers in the EEA,” said Ghoos.
OKX serves over 60 million customers worldwide and is recognized for offering advanced and reliable cryptocurrency services, operating both centralized (CEX) and decentralized (DEX) exchange platforms.
In 2024, OKX expanded into seven new onshore markets and obtained four additional licenses and registrations as part of its broader global growth strategy.
Once tangled in a patchwork of national rules, the European crypto space is now inching toward an interconnected system with MiCA at its center.
OKX’s passporting rights bring an added layer of confidence for users, but also challenge other platforms to keep up.
The deeper question is whether such centralized oversight will help the sector flourish or constrain it, an issue that both investors and policymakers will likely debate.
