OKX has expanded its regulatory presence in Europe after securing a license that enables it to offer stablecoin-based payment services.
The exchange told Cointelegraph on Monday that it had obtained a Payment Institution (PI) license in Malta. Issued under the European Union’s payments framework, the authorization aligns OKX’s payment offerings with requirements set out in the bloc’s Markets in Crypto-Assets Regulation (MiCA) and the Second Payment Services Directive (PSD2).
Under EU rules, crypto-asset service providers that facilitate payment services involving stablecoins must hold either a PI or Electronic Money Institution (EMI) license. OKX’s new PI approval follows its earlier MiCA license granted by the Malta Financial Services Authority in January 2025.
“Securing a Payment Institution license ensures that these products operate on a fully compliant footing,” said Erald Ghoos, CEO of OKX Europe.
“Europe has chosen clarity over ambiguity when it comes to digital asset regulation […] Stablecoins can meaningfully modernize money, improving cross-border efficiency and reducing friction in payments, but only if built within strong regulatory guardrails.”
License supports OKX Pay and OKX Card rollout
OKX said the newly obtained Payment Institution license will underpin the rollout of products such as OKX Pay and the OKX Card, which enable users to spend cryptocurrencies and stablecoins for everyday transactions.
Launched in late January, the OKX Card allows payments in stablecoins including Circle’s USDC and the Paxos-issued Global Dollar (USDG).
