OKX Expands to 28 EEA States, Bringing Crypto to Europe

OKX, a prominent global cryptocurrency exchange, has announced the launch of its services in 28 European Economic Area (EEA) member states. This expansion follows the company's securing of a MiCA (Markets in Crypto-Assets) pre-authorization under the Crypto Markets framework of EU regulations in late January.

With this license, OKX is now authorized to operate in the unified single market of the European Union, providing its services to residents of 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.

OKX's European users will now have access to local payment methods and secure, seamless access to crypto markets. They can deposit and withdraw euros for free via bank transfers and purchase crypto assets through cards and other widely-used local payment methods.

MiCA, which entered into force in July 2023, is a regulatory requirement by the EU aimed at establishing a comprehensive legal framework to regulate crypto-assets within the EEA. It focuses on activities around crypto-assets not already covered by existing EU financial legislation, such as the MiFID II framework for financial instruments and the e-money directive. MiCA license is mandatory for crypto-asset service providers (CASPs) like exchanges, wallet providers, brokerage services, lending platforms, and payment processors before they can offer services.

OKX's European users will have access to a range of services, including spot trading, which allows them to buy and sell various cryptocurrencies, such as Bitcoin (BTC) and Ethereum (ETH), against fiat currencies like EUR (Euro) and GBP (British Pound), as well as other cryptocurrencies. Additionally, OKX supports fiat-to-crypto and crypto-to-fiat payments, enabling users to purchase cryptocurrencies using fiat money such as the Euro (EUR) and the British Pound (GBP) through bank transfers, credit cards, and other payment methods. Users can also withdraw their crypto holdings in fiat currency.