OKX and Crypto.com Win MiCA Licenses

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On January 27, OKX and Crypto.com announced that they have obtained full licenses under the EU’s Markets in Crypto-Assets Regulation (MiCA).

These licenses, issued by the Malta Financial Services Authority (MFSA), will allow them to offer regulated crypto services to customers across the European Economic Area (EEA).

One notable aspect of MiCA is its provision for “passporting,” which allows licensed businesses to expand their services seamlessly throughout the EU with a unified regulatory framework.

This makes it easier for millions of users in the EEA to access cryptocurrencies, breaking down traditional barriers. Both exchanges are taking advantage of this provision, with OKX planning to offer over-the-counter (OTC) trading, spot trading, and bot trading on a user-friendly platform tailored to local languages and currencies.

Crypto.com also plans to provide a wide range of crypto-related services, including banking, credit cards, and stock services, to its European customers. These licenses also open up the possibility for users to access over 240 cryptocurrency tokens and over 260 trading pairs through regulated means. OKX, in particular, has 61 euro-crypto trading pairs, making it even more appealing to users in the eurozone.