OKX is now fully licensed under Mica to work through the European Union

OKX has become one of the first encryption exchanges that receives permission to provide services throughout Europe. The MICA license platform (markets in encrypted assets) was granted.

By obtaining this license, OKX expands its capabilities in the European market and enhances its reputation as a reliable partner for investors and merchants in Europe.

What does the Mika license mean for okx

For okx, and Mika license indicates The opportunity to expand in 28 countries within the European Economic Zone (EA). ExchandE Crypto can now provide fully local and translated local encryption products and services for more than 400 million Europeans in 28 countries.

Moreover, European OKX axis It will be in Malta. Plastic customers will have access to a reliable and safe infrastructure, including services such as OTC tradingImmediate trade, Android trading. They will also have access to more than 240 cryptocurrencies and 60 commercial pairs with the euro.

Users can deposit and withdraw the euro for free through banking transport and purchasing cryptocurrencies easily using other famous local cards and payment methods.

The MICA license also gives OKX passport rights, which means that the company can provide its services in other European Union countries if registered and licensed in a member state. This greatly simplifies the expansion of work and expanding its scope, allowing OKX to work under a unified organizational framework in all countries of the European Union.

In response to the needs of local markets, OKX is to provide a smooth user experience, including platforms in local languages ​​and support famous local payment methods.

“Securing the MICA license and achieving the passport rights confirms our fixed commitment to providing safe, translated and translated encryption services throughout the European Economic Zone. With the support of local languages, currencies and payment methods, we are making a more easy encryption trading than ever. OKX is the new alternative to encryption financing The European, the teacher enhances our site as the transition platform for both beginners and advanced clients In the European Economic Zone ” He said.

The road to Mika: Challenges and Achievements

The process of obtaining a mica license was very long. OKX representatives in a comment to Beincrypto, the entire process took more than a year. During this time, the stock exchange has updated its policies and procedures, built the appropriate team structure, and made necessary adjustments to its products.

“The total business preparation was for more than a year. This includes participating in a variety of industrial work groups, responding to the three counseling papers by ESMA, updating policies and procedures, and enhancing our teams to prepare for growth.”

OKX submitted a full MICA request on September 1, 2024, and after fulfilling all the conditions set by MFSA, the stock exchange received a full Mica license on January 27, 2025.

OKX had a great advantage-before the start of preparations for MICA license, the platform has already kept with the VFA Class 4 license issued by MFSA in Malta. This license is the highest available in Malta, so the transition to a MICA license was a smoother process.

“The VFA Class 4 license is the highest license model available at that time, so the height of the VFA Class 4 license to the actual MICA license was relatively minimal. We were already complied with the highest standards in Europe.”

OKX already serves more than 60 million customers worldwide and continues to develop both central exchange platforms (CEX) and decentralization (DeX). In 2024, the stock exchange launched its services in seven new countries and obtained four new licenses, which increased the consolidation of its position in international markets.

For beginners, Mika (markets in encrypted assets) It is a new list of the encryption market in the European Union. The legislation will enter into force in the summer of 2025.

MICA’s primary goal is to set unified standards and rules Encryption companies It works within the European Union. This aims to protect investors, prevent fraud, and ensure the stability of the entire financial market.

For a MICA license, the encryption exchange must meet many mandatory requirements. The first exchange of cryptocurrencies to obtain a Mika license Crypto.com was.