Crypto exchange OKX Europe recently acquired a Malta-licensed firm that holds a Markets in Financial Instruments Directive II (MiFID II) license. This acquisition is a strategic move that brings OKX closer to offering regulated derivatives products across Europe.

The entity is set to become operational later this year, pending approval from the Malta Financial Services Authority (MFSA). OKX has not disclosed the name of the firm acquired.

With the MiFID II license, OKX will be authorized to provide regulated derivatives products to its institutional clients in the European Economic Area, which comprises 27 EU member states along with Iceland, Liechtenstein, and Norway.

This development enhances OKX’s position as the third-largest exchange by market capitalization in the EU. In January, it secured a Markets in Crypto Assets license from Malta.