Coinbase, OKX offer incentives to capture European crypto users ahead of MiCA deadline

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Coinbase, OKX target EU users

Highlights

Coinbase offers a 5% transfer bonus for users in Germany, France, Italy, Belgium, Poland, Sweden, and the UK who move funds before July 13.
OKX launches significant incentives—including deposit matching up to 8%—for new eligible users in the European Economic Area ahead of the MiCA deadline.
Binance suspends new EU user registrations, restricts some services, and withdraws its Greece license application as it seeks MiCA approval elsewhere before the July 1 regulatory cutoff.

Bonus campaigns accelerate before July cutoff

As reported by CoinDesk, Coinbase and OKX moved to attract users after Binance said it is suspending some services in the European Union because it does not have a Markets in Crypto-Assets, or MiCA, license in place by the deadline.

Brian Armstrong, Coinbase's chief executive and founder, said in a Friday X post that users in Germany, France, Italy, Belgium, Poland, Sweden and the UK can receive sign-up incentives. Coinbase says it has been MiCA-licensed since 2025 and is offering a 5% transfer bonus to people who move funds to the platform before July 13.

Star Xu, OKX's founder and chief executive, said in a Saturday X post that the company is rolling out one of its largest welcome campaigns for eligible users in the European Economic Area. The offer includes welcome bonuses and deposit matching of up to 8%, as OKX positions itself as a regulated long-term platform in the region.

MiCA rules reshape European exchange competition

Binance emailed users to say it is no longer able to accept new registrations and will restrict some services, according to comments from a spokesperson for the Abu Dhabi-based exchange. The company told customers that their assets remain safe and accessible at all times.

Days before the June 30 cutoff, Binance also said it withdrew its license application in Greece and will seek authorization in another EU country. In a statement, the exchange said its ambitions in Europe remain unchanged and that it is confident it will secure a MiCA license in the coming months.

Under the new regime, crypto firms must hold a MiCA license from at least one EU member state by July 1 to offer services across all 27 member states. Firms without approval must wind down EU activities, raising the stakes for exchanges seeking to preserve market share in one of the industry's largest regulated regions.

Our earlier analysis of Coinbase (COIN) focused on the stock’s rebound amid ongoing technical weakness, alongside CEO Brian Armstrong’s updates on expanding the Base ecosystem. We also noted that Coinbase’s newly secured MiCA license was a key pillar of its international growth strategy, even as short-term market headwinds and volatility persisted.

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