OKX Europe Secures MiFID II License for Regulated Derivatives

OKX Europe has made a significant move to expand its services in the European market by acquiring a Markets in Financial Instruments Directive II (MiFID II) license. This acquisition, facilitated through a Malta-based entity, allows OKX to offer regulated derivative products and services to institutional clients across the European Economic Area (EEA). The license enables OKX to provide secure trading possibilities for institutional clients active in the 30 EU member states, marking a pivotal moment in the company's regulatory compliance journey.

The acquisition of the MiFID II license is part of OKX's broader strategy to integrate digital assets with traditional financial operations. Erald Ghoos, the CEO of OKX Europe, emphasized that regulatory compliance is a top organizational priority. This move not only enhances OKX’s European operations but also demonstrates its commitment to maintaining secure and innovative services. The approval from the Malta Financial Services Authority (MFSA) is expected to pave the way for OKX to commence operations, further solidifying its presence in the European market.

OKX's acquisition of the MiFID II license follows its recent achievement of becoming the first global crypto exchange to receive a full Markets in Crypto-Assets (MiCA) license. The MiCA license allows OKX to deliver localized services to 28 European Economic Area markets, while the implementation of MiFID II enables the company to introduce regulated derivatives to its product range. This dual regulatory compliance positions OKX as a leader in the crypto industry, offering a comprehensive suite of services that cater to both retail and institutional clients.

The European user base of the OKX platform now has access to multiple crypto trading options, including over-the-counter (OTC) trading, spot trading services, and automated trading features. OKX provides its services to users across more than 240 cryptocurrencies, 300 trading pair options, and 60 Euro-based pairs. This extensive range of offerings underscores OKX's commitment to providing a diverse and accessible trading environment for its users.

Hong Fang, the President of OKX, highlighted the company’s long-term vision, stating that obtaining a MiFID II license serves to advance the company’s purpose of delivering widely accessible regulated crypto products. OKX is dedicated to maintaining open protocols and attaining regulatory compliance as it responsibly builds its operations. The company's commitment to regulatory compliance is further evidenced by its recent VIP event held at Manoel Island in Malta, where OKX showcased its improved KYC procedures, additional payment methods, and localized product functions.

OKX's strategic move to acquire the MiFID II license is part of its broader plan to create a powerful local presence in Europe. The company intends to achieve this through partnerships with influencers, hosting events, and collaborating with regional companies. As OKX continues its European expansion, it remains dedicated to fostering a secure and regulated digital asset ecosystem, ensuring that its services meet the highest standards of compliance and innovation.