OKX Secures MiCA Pre-Authorization License | Airdrop Alert Pro

OKX has become the first global exchange to receive pre-authorization from the EU Markets in Crypto-Assets Regulation (MiCA).

This milestone enables OKX to provide localized and regulated crypto services to more than 400 million Europeans through its European Economic Area (EEA) hub in Malta.

OKX exchange obtains MiCA pre-authorization

According to the announcement, Malta’s strong regulatory environment and advanced technology infrastructure played a crucial role in OKX’s decision to establish the MiCA Center there. The exchange already holds a Level 4 VASP (Virtual Asset Service Provider) license from the Malta Financial Services Authority (MFSA), which is known for its strict compliance standards.

“The MFSA is renowned for its robust regulatory framework and is at the forefront of global regulatory standards. Through our Malta hub, OKX clients will have access to the best, The most secure and fully compliant digital asset platform. “

especially, Mika Represents the EU’s efforts to establish a unified regulatory framework for digital assets. Once OKX obtains a full MiCA license, it will be able to offer its services in all 30 EEA member states. This will simplify access to regulated crypto services for retail and institutional customers in the region.

“MiCA takes a progressive approach to European digital financial regulation and places a strong emphasis on customer security and Safety Global benchmarks established… Europe’s stance on transparent and harmonized regulation is a key driver in building the future of the global digital economy. “The statement quoted OKX President Fang Hong as saying.

For now, this marks a step in the right direction, bringing them closer to full licensing. it is exchange Offering a comprehensive product portfolio. Services range from over-the-counter (OTC) trading to spot and bot trading, with access to over 240 cryptocurrencies across 260 token pairs.

Users will also have access to over 60 EUR trading pairs, localized language support and currency display, which will enhance the accessibility of the platform while improving the overall user experience.

MiCA enables cryptocurrency companies to expansion plan

This announcement comes on the heels of OKX’s growing global footprint. The exchange’s MiCA pre-authorization builds on its recent Cooperation with Standard Chartered Bankfocusing on institutional hosting solutions. The partnership highlights OKX’s ambition to serve a diverse customer base, from retail traders to large institutions.

Ghoos added: “OKX will become the digital asset platform of choice for European retail and institutional clients offering any digital asset under a fully regulated framework.”

OKX’s expansion into Europe under MiCA’s leadership reflects its commitment to becoming the most licensed and regulated platform in the world. The pre-authorization reportedly marks the company’s eighth regulatory milestone, further solidifying its position as a leader in the cryptocurrency industry.

Additionally, OKX’s pre-licensing coincides with recent hints from its founder secret line of business. The joint venture aims to complement its core crypto products and drive innovation in the digital asset space, BeInCrypto reported.

OKX’s achievement comes amid a wave of MiCA-related activity in the crypto industry. Less than a week ago, Crypto.com obtains MiCA licenseexpanding its business within the EU. Similarly, four other companiesinclude monthly paymentrecently obtained MiCA licenses in the Netherlands and Malta.

However, implementation of MiCA is not without challenges. In preparation for the new regulations, some EU exchanges have delisted Tether’s USDTcreating uncertainty among users.