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EU Crypto Market Grows as OKX Obtains MiCA Pre-Authorization

OKX, a key player in the global cryptocurrency exchange market, has proudly secured a MiCA pre-authorization, setting the stage for a major expansion into the European market. This move makes OKX the first virtual financial assets exchange to achieve such a regulatory milestone under the Markets in Crypto-Assets Regulation (MiCA). Once the full MiCA license is obtained, OKX plans to provide localized cryptocurrency services to over 400 million citizens across the European Economic Area (EEA), with a strategic operational hub based in Malta. The full licensing will enable OKX to offer a comprehensive range of crypto services including over-the-counter (OTC) trading, spot trading, and automated bot trading, covering more than 240 cryptocurrency tokens and 260 trading pairs. To facilitate ease of access and enhance user experience, OKX will localize its services by integrating local language support, regional currency displays, and tailored customer assistance. This regulatory achievement underscores OKX's commitment to providing a transparent, secure, and compliant trading environment within Europe's burgeoning crypto ecosystem. OKX's strategic choice of Malta for its MiCA hub is attributed to the country’s robust regulatory climate, advanced tech infrastructure, and the possession of an established Class 4 VASP license from the Malta Financial Services Authority (MFSA). Additionally, OKX aims to redefine the crypto trading experience in Europe by adhering to MiCA's stringent standards, thereby ensuring a secure and accessible platform for users at all levels throughout the EEA.