OKX has been licensed by a Maltese payment institution to operate EU-compliant stablecoin services, including OKX Pay and OKX Card.
Cryptocurrency exchange OKX expanded its regulatory footprint in Europe, securing a new license for stablecoin payments.
OKX has obtained a Payment Institution (PI) license in Malta, the company told Cointelegraph on Monday. The authorization is issued under the European Union’s payments framework and is designed to bring OKX’s payment products into line with requirements under the bloc’s Markets in Crypto-Assets Regulation (MiCA) and the Second Payment Services Directive (PSD2).
Under these rules, crypto-asset service providers (CASPs) offering payment services involving stablecoins must hold either a PI or Electronic Money Institution (EMI) authorization. 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.
“Securing a Payment Institution license ensures that these products operate on a fully compliant footing,” OKX Europe CEO Erald Ghoos said, adding:
“Europe has chosen clarity over ambiguity when it comes to digital asset regulation […] Stablecoins can significantly modernize money by improving cross-border efficiency and reducing payment frictions, but only if they are built within sturdy regulatory barriers.
The license supports the implementation of OKX Pay and OKX Card
The exchange said the license will cover products including OKX Pay and OKX Card, which allow users to spend crypto assets and stablecoins.
Officially launched in delayed January, the OKX card allows you to spend stablecoins such as USDC (USDC) from Circle and Global Dollar (USDG) from Paxos.
Warehouse: How cryptocurrency regulations have changed in 2025 — and how they will change in 2026
[–>
