Cryptocurrency exchange OKX has obtained a Markets in Financial Instruments Directive (MiFID II) license, granting it the ability to offer derivatives trading products across the European Union. This milestone follows the exchange’s recent preauthorization under the Markets in Crypto-Assets (MiCA) framework, strengthening its foothold in the European Economic Area (EEA).
OKX Expands European Presence With MiFID II and MiCA
On March 12, OKX’s Europe CEO, Erald Ghoos, confirmed the acquisition of the MiFID II license, which enables the exchange to serve institutional investors with crypto derivatives. This regulatory approval marks a significant step in broadening its product offerings beyond spot trading.
The MiFID II and MiCA regulatory frameworks complement each other but serve different purposes:
- MiFID II applies to all types of financial instruments and mandates registration for crypto derivatives platforms.
- MiCA regulates crypto-asset service providers dealing with cryptocurrencies that are not classified as financial instruments.
OKX Strengthens Market Position
OKX, headquartered in Seychelles, ranks among the largest global cryptocurrency exchanges by trading volume. As of March 12, it processed nearly $3.7 billion in spot trades, according to CoinMarketCap.
With these new licenses, OKX is now well-positioned to expand its European presence, catering to institutional and retail traders while adhering to the EU’s evolving regulatory framework.
By securing both MiFID II and MiCA registrations, OKX is solidifying its position in Europe’s regulated crypto market. These approvals will allow the exchange to attract institutional investors while ensuring compliance with EU financial laws.
