OKX, a prominent cryptocurrency exchange, has further solidified its position in the European market by securing a Payment Institution (PI) license in Malta. This strategic move, announced on Monday, underscores the company’s commitment to adhering to stringent regulatory frameworks and expanding its stablecoin services across the European Union.
Compliance and Expansion
The PI license, issued under the EU’s payments framework, aligns OKX’s payment products with the requirements of the Markets in Crypto-Assets Regulation (MiCA) and the Second Payment Services Directive (PSD2). These regulations mandate that crypto-asset service providers (CASPs) offering payment services involving stablecoins must hold either a PI or Electronic Money Institution (EMI) authorization.
“Securing a Payment Institution license ensures that these products operate on a fully compliant footing,” said Erald Ghoos, CEO of OKX Europe. He emphasized that Europe’s regulatory clarity is crucial for the development of digital assets, particularly stablecoins, which have the potential to modernize the financial system by improving cross-border efficiency and reducing friction in payments.
Supporting OKX Pay and OKX Card
The new license will cover OKX’s payment products, including OKX Pay and the OKX Card. Launched in late January, the OKX Card supports spending in stablecoins such as Circle’s USDC (USDC) and the Paxos-issued Global Dollar (USDG). This expansion not only enhances the usability of stablecoins for everyday transactions but also positions OKX as a leader in the growing stablecoin ecosystem.
Regulatory Milestones and Future Outlook
OKX’s PI license comes more than a year after the exchange received a MiCA license from the Malta Financial Services Authority (MFSA) in January 2025. This series of regulatory achievements highlights the company’s dedication to building a robust and compliant infrastructure in Europe.
As the European Union continues to refine its regulatory landscape for digital assets, OKX’s proactive approach to compliance is likely to pay off. The company’s commitment to adhering to MiCA and PSD2 not only builds trust among users and regulators but also sets a precedent for other crypto exchanges looking to expand into the EU market.
Looking ahead, OKX’s strategic focus on regulatory compliance and product innovation is expected to drive further growth and adoption of stablecoins and other digital assets in Europe. The company’s continued efforts to integrate stablecoins into everyday financial transactions could play a pivotal role in shaping the future of the digital economy.
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