• OKX and Crypto.com gain EU MiCA licenses, enabling secure, regulated crypto services across 30 European markets.
• MiCA’s passporting unlocks access to 240+ tokens and 260 trading pairs, enhancing crypto accessibility for 400M+ EEA users.
• Europe’s proactive MiCA regulation sets global standards, fostering innovation, transparency, and safety in cryptocurrency services.

OKX and Crypto.com secured full licensing under the European Union’s Markets in Crypto-Assets (MiCA) Regulation on January 27. The Malta Financial Services Authority granted approvals, enabling both platforms to deliver regulated cryptocurrency services across the European Economic Area (EEA). This milestone enhances crypto accessibility for over 400 million potential users in 30 EEA markets through MiCA’s passporting framework, which supports seamless cross-border operations.

MiCA License: A Gateway to Secure Crypto Services

The MiCA license equips OKX and Crypto.com to provide secure and compliant services, including spot trading, bot trading, and over-the-counter transactions. By leveraging MiCA’s harmonized regulatory structure, users gain access to over 240 tokens and 260 trading pairs. Besides, the license ensures platforms offer localized experiences with language-specific interfaces, local currency options, and regionally tailored customer support.

OKX plans to enhance its platform with free euro bank transfers, card-based crypto purchases, and partnerships with trusted payment providers. Moreover, local teams will organize community events and ensure accessibility for regional users. Similarly, Crypto.com aims to strengthen its European presence with compliant and seamless services that prioritize customer trust and transparency.

Industry Leaders Champion Regulation

Erald Ghoos, CEO of OKX Europe, emphasized the significance of MiCA in fostering responsible crypto leadership. He acknowledged Malta’s reputation for robust regulatory oversight. Additionally, Ghoos highlighted MiCA’s role in promoting innovation within a secure environment, setting a global benchmark for cryptocurrency governance.

Austrian fintech platform Bitpanda also joined the licensed ranks, with CEO Eric Demuth stressing enforcement’s role in MiCA’s success. According to Demuth, lax enforcement could undermine the regulation’s effectiveness and disadvantage compliant entities. Hence, consistent oversight by EU regulators will be critical in ensuring MiCA’s objectives are met.

A Progressive Step for Europe

Europe’s proactive approach to digital finance showcases its commitment to transparency, safety, and innovation. The MiCA license not only fortifies trust in cryptocurrency but also strengthens Europe’s position as a leader in global digital finance. 

OKX and Crypto.com’s licensing highlights a pivotal step in fostering a secure, user-centric crypto ecosystem. Consequently, these platforms are poised to redefine how Europeans engage with digital assets, setting new standards for the industry.