OKX has officially secured a license under the European Union’s Markets in Crypto-Assets (MiCA) regulatory framework. With this, the company can offer its services across all 28 member states of the European Economic Area (EEA).
On 18 February 2025, the company said, “With MiCA licensing secured, we’re passporting regulated crypto services across Europe—offering local payment methods and secure, seamless access to 400M+ users.”
Commenting on the development, Erald Ghoos, CEO of OKX Europe said, “Securing the MiCA license and achieving passporting rights underscores our unwavering commitment to providing secure, transparent, and localized crypto services across the EEA.”
OKX is Now Live Across 28 EEA Countries 🇪🇺
With MiCA licensing secured, we’re passporting regulated crypto services across Europe—offering local payment methods and secure, seamless access to 400M+ users. A new alternative for Europe’s crypto future ➡️… pic.twitter.com/Ak3ieaCrfh
— OKX (@okx) February 18, 2025
OKX Will Face Competition From BitPanda, Crypto.com
Singapore’s Crypto.com also announced securing a MiCA license on 12 February 2025. With this approval, the company can officially launch its services across all 30 EEA member states.
Bitpanda, an Austrian fintech unicorn, received its MiCA license on 27 January 2025. The company bagged the permit to expand in the EU from Germany’s Federal Financial Supervisory Authority (BaFin). The license is effective immediately, allowing the fintech unicorn to commence operations across the member EU states.
On 20 January 2025, US-based Gemini announced moving its headquarters from Dublin to Malta as its hub for the MiCA framework.
“Having received our Virtual Financial Assets (VFA) Service Licence in Malta in December 2024 (our sixth Virtual Asset Service Provider registration), the move will enable us to empower the next era of financial, creative and personal freedom in Europe,” Gemini said.
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Key Takeaways
- The passporting feature of MiCA allows businesses licensed in one EU country to operate seamlessly across all member states without requiring additional approvals.
- OKX joins other prominent exchanges like Bitpanda and Crypto.com in adhering to the MiCA regulatory structure.
