VALLETTA, Malta, July 18,
2024 /PRNewswire/ -- OKX, a leading global
crypto exchange and Web3 technology company, today
announced Malta as its Markets in
Crypto-Assets (MiCA) hub in line with its strategy to
become the leading crypto-asset exchange in the
European Union (EU).
OKX chose Malta after
evaluating several jurisdictions because of its high regulatory
standards and the company's existing team and strong infrastructure
in the country. Malta, known for
its forward-thinking and comprehensive regulatory approach to
blockchain and cryptocurrency, makes it an ideal base
from which OKX can offer its services to EU customers. OKX's local
entity, Okcoin Europe Ltd, has held a Class 4 Virtual Financial
Assets (VFA) Service Provider License from the Malta Financial
Services Authority (MFSA) since 2021.
OKX believes the future of the crypto industry is
increasingly regulated. The company is embracing a regulated model
in Europe: investing in
compliance, risk and corporate governance in our pursuit to be
among the most accessible and trusted crypto
venues.
Under the MiCA framework, OKX plans to offer spot trading
(including EUR and USDC pairs) in addition to buy, sell, convert
and staking services to qualified EU residents through Okcoin
Europe Ltd. Once fully effective on December
30, 2024, MiCA will allow crypto-asset
exchanges to begin to passport into EU countries and provide
services across the EU.
OKX Europe General Manager-Designate Erald Ghoos said:
"We've established our MiCA hub in Malta because it will enable us to provide
world-class products to a diverse range of customers across
Europe. These new regulatory
standards, which aim to protect users while supporting the
sustainable development of the crypto industry, also
enable us to deepen our hiring and investment in Europe in the long-term. I can think of no
better place to establish our MiCA hub than Malta due to its track record of prioritizing
customer safety and security."
The establishment of its MiCA hub in Malta is another important milestone in OKX's
growth, following its recent crypto exchange and Web3
wallet launches in the Netherlands
and Türkiye in 2024.
Learn more at okx.com
About OKX
OKX is a leading global crypto exchange and
innovative Web3 company. Trusted by more than 50 million global
users, OKX is known for being one of the fastest, most secure and
reliable crypto apps in the world and is a top partner
of Manchester City FC, McLaren Racing and the Tribeca Film
Festival.
OKX is committed to transparency and security and publishes its
Proof of Reserves on a monthly basis.
To learn more about OKX, download our app or visit: okx.com
Disclaimer
This announcement is provided for informational purposes only. It
is not intended to provide any investment, tax, or legal advice,
nor should it be considered an offer to purchase, sell, hold or
offer any services relating to digital assets. Digital assets,
including stablecoins, involve a high degree of risk, can fluctuate
greatly, and can even become worthless. You should carefully
consider whether trading or holding digital assets is suitable for
you in light of your financial condition and risk tolerance. OKX
does not provide investment or asset recommendations. You are
solely responsible for your investment decisions, and OKX is not
responsible for any potential losses. Past performance is not
indicative of future results. Not all products are available in all
regions. Please consult your legal/tax/investment professional for
questions about your specific circumstances.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/okx-announces-malta-as-mica-hub-in-eu-302199546.html
SOURCE OKX