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Home.forex news reportCrypto Exchange OKX Gains EU MiCA License as Bitcoin Dips Below $100K

Crypto Exchange OKX Gains EU MiCA License as Bitcoin Dips Below $100K

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OKX finally received the Markets in Crypto-Assets
Regulation (MiCA) license. The milestone allows the crypto exchange to offer
regulated crypto services through localized offerings targeting more than 400
digital asset users in Europe.

Currently, OKX ranks as the fourth with a trading
volume of $4.9 billion in the past day alone. According to data from
CoinMarketCap, the current top three exchanges are Binance, Bybit, and
Coinbase.

“The full MiCA license marks a pivotal step in
OKX’s journey as a responsible leader and innovator across the global crypto
ecosystem. Europe holds immense potential to become a cornerstone of excellence
for digital assets and blockchain technology, and the MiCA framework
establishes a strong foundation for the industry to continue growing,” commented
OKX Europe’s CEO, Erald Ghoos.

Top crypto exchanges, Source: CoinMarketCap

The onboarding of the exchange comes amid a market
retracement. Bitcoin currently trades at $99,927, following a 4% and a 6%
decline in the past day and week, respectively.

Ethereum and XRP also faced a decline during the same
period. ETH is changing hands for $3,106, representing a 5% and a 6% price
decline in the past 24 hours and one week, respectively. XRP has also dropped
12% in the weekly chart to $2.85.

According to the company, the MiCA license enables OKX
to operate across the entire European Economic Area from its hub in Malta. This
license ensures that European customers can access a range of regulated crypto
products, including spot trading, bot trading, and over-the-counter trading.

The platform reportedly supports over 240
cryptocurrency tokens, with more than 260 trading pairs, including 60
euro-based trading pairs. Ghoos emphasized the potential of Europe as a
stronghold for blockchain innovation under a unified regulatory framework.

OKX is now customizing its platform to cater to the
diverse needs of European users. Features reportedly include local language
options, currency displays, and customer support tailored to regional
preferences. Besides this, users can deposit and withdraw euros for
free on the platform through bank transfers or cryptocurrency purchases using
local payment methods like credit cards.

Expanding Across the EEA with Passporting

The MiCA framework also enables OKX to passport its
license from Malta to all 30 EEA member states. This feature seeks to eliminate
the need for separate licensing in each country, streamlining access to OKX’s
services.

With Malta’s robust regulatory framework and
technological infrastructure, OKX has chosen the country as the ideal base for
its European operations.

OKX offers a range of products to meet diverse
customer needs. From a simple exchange interface for beginners to advanced
trading tools and a comprehensive crypto wallet, the platform caters to every
level of expertise. OKX also emphasizes reliability, boasting a 99.99% uptime
and a transparent Proof of Reserves system.

OKX finally received the Markets in Crypto-Assets
Regulation (MiCA) license. The milestone allows the crypto exchange to offer
regulated crypto services through localized offerings targeting more than 400
digital asset users in Europe.

Currently, OKX ranks as the fourth with a trading
volume of $4.9 billion in the past day alone. According to data from
CoinMarketCap, the current top three exchanges are Binance, Bybit, and
Coinbase.

“The full MiCA license marks a pivotal step in
OKX’s journey as a responsible leader and innovator across the global crypto
ecosystem. Europe holds immense potential to become a cornerstone of excellence
for digital assets and blockchain technology, and the MiCA framework
establishes a strong foundation for the industry to continue growing,” commented
OKX Europe’s CEO, Erald Ghoos.

Top crypto exchanges, Source: CoinMarketCap

The onboarding of the exchange comes amid a market
retracement. Bitcoin currently trades at $99,927, following a 4% and a 6%
decline in the past day and week, respectively.

Ethereum and XRP also faced a decline during the same
period. ETH is changing hands for $3,106, representing a 5% and a 6% price
decline in the past 24 hours and one week, respectively. XRP has also dropped
12% in the weekly chart to $2.85.

According to the company, the MiCA license enables OKX
to operate across the entire European Economic Area from its hub in Malta. This
license ensures that European customers can access a range of regulated crypto
products, including spot trading, bot trading, and over-the-counter trading.

The platform reportedly supports over 240
cryptocurrency tokens, with more than 260 trading pairs, including 60
euro-based trading pairs. Ghoos emphasized the potential of Europe as a
stronghold for blockchain innovation under a unified regulatory framework.

OKX is now customizing its platform to cater to the
diverse needs of European users. Features reportedly include local language
options, currency displays, and customer support tailored to regional
preferences. Besides this, users can deposit and withdraw euros for
free on the platform through bank transfers or cryptocurrency purchases using
local payment methods like credit cards.

Expanding Across the EEA with Passporting

The MiCA framework also enables OKX to passport its
license from Malta to all 30 EEA member states. This feature seeks to eliminate
the need for separate licensing in each country, streamlining access to OKX’s
services.

With Malta’s robust regulatory framework and
technological infrastructure, OKX has chosen the country as the ideal base for
its European operations.

OKX offers a range of products to meet diverse
customer needs. From a simple exchange interface for beginners to advanced
trading tools and a comprehensive crypto wallet, the platform caters to every
level of expertise. OKX also emphasizes reliability, boasting a 99.99% uptime
and a transparent Proof of Reserves system.





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