In a rather audacious move, the trading platform known as OKX has, with a flourish befitting a grand opera, acquired a Markets in Financial Instruments Directive (MiFID II) license. This was achieved through the purchase of an existing company nestled in the charming isle of Malta. Ah, Malta! Where the sun shines, and now, it seems, where derivatives can frolic freely in the European Economic Area (EEA).
However, dear reader, let us not get ahead of ourselves! These delightful services are still awaiting the nod of approval from the Malta Financial Services Authority (MFSA). One can only imagine the bureaucratic ballet that must ensue before they can be unveiled later this year. But fear not, for this acquisition is a significant leap for OKX, as it seeks to entwine its digital asset offerings with the venerable traditions of the financial world.
— OKX (@okx) March 12, 2025
With aspirations as lofty as a lark, the exchange aims to provide institutional products that include exotic options and hedging instruments. All of this, of course, must comply with the intricate tapestry of European legal requirements. Because who doesn’t love a good legal framework, right? 😂
It is worth noting that OKX already boasts a full Markets in Crypto-Assets (MiCA) license, allowing it to engage in localized crypto trading across the 30 countries of the European Union. The exchange has grand plans to enhance institutional connectivity, introduce more fiat pairing options, and facilitate euro transactions once the MiFID II is given the green light. Because, let’s face it, who doesn’t want to trade in euros? 💶
Currently, OKX supports a staggering array of over 240 tokens, 300 trading pairs, and 60 euro-based pairs. They even offer local language options, regional customer support, and KYC procedures that are as easy as pie. Or should I say, as easy as a Maltese pastizzi? 🥟
In a rather amusing twist, Binance recently announced that all stablecoin pairs not compliant with the MiCA regulation will be delisted for EEA users. This serves as a reminder that Europe is becoming increasingly regulatory, much to the chagrin of some. But hey, rules are rules, right? 🙄
Erald Ghoos, the CEO of OKX Europe, has proclaimed that this license will enable OKX to collaborate with some of the finest financial institutions and broaden investment access across the continent. Thus, with the acquisition of the MiFID II license, OKX positions itself at the vanguard of the regulated European crypto market, offering institutional investors a safe and compliant haven for their investments. A veritable utopia of financial security, if you will!
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2025-03-13 08:37