OKX Secures Regulatory Approval for EU Stablecoin Payments

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Cryptocurrency exchange OKX has strengthened its position in the European market by securing a license to facilitate stablecoin-based payment services.

The company confirmed to Cointelegraph on Monday that it has obtained a Payment Institution (PI) license in Malta. This authorization, granted under the EU’s financial services framework, allows the exchange to align its payment offerings with the requirements of both the Markets in Crypto-Assets Regulation (MiCA) and the Second Payment Services Directive (PSD2).

The regulatory landscape in Europe mandates that crypto-asset service providers (CASPs) handling payment services with stablecoins must possess either a PI license or an Electronic Money Institution (EMI) authorization. This latest approval for OKX arrives over a year after it initially secured a MiCA license from the Malta Financial Services Authority (MFSA) in January 2025.

Records from the MFSA indicate that the PI license was officially issued on Feb. 11. The company now lists this authorization as a Financial Institution license on its official website. With this new status, OKX can offer a comprehensive suite of payment services across the EU, enabling functionalities such as cash deposits and withdrawals from user payment accounts, alongside all associated account management operations.