VALLETTA, Malta, July 18, 2024 /PRNewswire/ -- OKX, a leading global crypto exchange and Web3 technology company, today announced Malta as its Markets in Crypto-Assets (MiCA) hub in line with its strategy to become the leading crypto-asset exchange in the European Union (EU).
OKX chose Malta after evaluating several jurisdictions because of its high regulatory standards and the company's existing team and strong infrastructure in the country. Malta, known for its forward-thinking and comprehensive regulatory approach to blockchain and cryptocurrency, makes it an ideal base from which OKX can offer its services to EU customers. OKX's local entity, Okcoin Europe Ltd, has held a Class 4 Virtual Financial Assets (VFA) Service Provider License from the Malta Financial Services Authority (MFSA) since 2021.
OKX believes the future of the crypto industry is increasingly regulated. The company is embracing a regulated model in Europe: investing in compliance, risk and corporate governance in our pursuit to be among the most accessible and trusted crypto venues.
Under the MiCA framework, OKX plans to offer spot trading (including EUR and USDC pairs) in addition to buy, sell, convert and staking services to qualified EU residents through Okcoin Europe Ltd. Once fully effective on December 30, 2024, MiCA will allow crypto-asset exchanges to begin to passport into EU countries and provide services across the EU.
OKX Europe General Manager-Designate Erald Ghoos said: "We've established our MiCA hub in Malta because it will enable us to provide world-class products to a diverse range of customers across Europe. These new regulatory standards, which aim to protect users while supporting the sustainable development of the crypto industry, also enable us to deepen our hiring and investment in Europe in the long-term. I can think of no better place to establish our MiCA hub than Malta due to its track record of prioritizing customer safety and security."
The establishment of its MiCA hub in Malta is another important milestone in OKX's growth, following its recent crypto exchange and Web3 wallet launches in the Netherlands and Türkiye in 2024.
Learn more at okx.com
About OKX
OKX is a leading global crypto exchange and innovative Web3 company. Trusted by more than 50 million global users, OKX is known for being one of the fastest, most secure and reliable crypto apps in the world and is a top partner of Manchester City FC, McLaren Racing and the Tribeca Film Festival.
OKX is committed to transparency and security and publishes its Proof of Reserves on a monthly basis.
To learn more about OKX, download our app or visit: okx.com
Disclaimer
This announcement is provided for informational purposes only. It is not intended to provide any investment, tax, or legal advice, nor should it be considered an offer to purchase, sell, hold or offer any services relating to digital assets. Digital assets, including stablecoins, involve a high degree of risk, can fluctuate greatly, and can even become worthless. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition and risk tolerance. OKX does not provide investment or asset recommendations. You are solely responsible for your investment decisions, and OKX is not responsible for any potential losses. Past performance is not indicative of future results. Not all products are available in all regions. Please consult your legal/tax/investment professional for questions about your specific circumstances.
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