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OKX secures European payment license to broaden stablecoin and cryptocurrency card offerings.
The Payments Institution license acquired in Malta positions the exchange in accordance with European Union regulatory standards set to be implemented in March 2026.
OKX has acquired a European payments license from Malta (OKX Press Office/Modified by CoinDesk)
Key points:
- The payments institution (PI) license enables OKX to comply with the Markets in Crypto-Assets (MiCA) regulation and the Second Payment Services Directive (PSD2).
- Crypto businesses facilitating payments with stablecoins, which are legally recognized as electronic money tokens (EMTs), are required to possess a PI or electronic money institution (EMI) authorization.
The cryptocurrency exchange OKX has secured a payment institution (PI) license in Malta, ensuring alignment with European Union regulatory standards that will take effect in March.
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This license authorizes OKX to continue providing stablecoin-related payment services throughout the EU in strict adherence to the Markets in Crypto-Assets (MiCA) regulation and the Second Payment Services Directive (PSD2), as stated by the company in a press release on Monday.
According to the revised PSD2 framework, crypto-asset service providers engaged in payment activities involving stablecoins, which are legally classified as electronic money tokens (EMTs), must obtain a PI or electronic money institution (EMI) authorization.
"We have recently launched real-world payment products, including OKX Pay and our OKX Card, that facilitate the everyday use of stablecoins. Obtaining a Payment Institution license guarantees that these offerings function on a fully compliant basis,” remarked Erald Ghoos, CEO of OKX Europe.
At the end of last month, OKX rolled out a crypto payment card in Europe in collaboration with Mastercard. The exchange is optimistic about the integration of stablecoins into traditional finance. OKX Ventures, the company’s innovation investment division, has recently supported a stablecoin issuance platform called STBL.
