OKX secures Malta payment license to expand EU stablecoin services
Crypto exchange OKX has expanded its European compliance reach after securing a Payment Institution (PI) license in Malta.
Highlights
- OKX secured a Malta PI license, aligning its stablecoin payments with MiCA and PSD2 rules.
- The approval strengthens OKX Pay and OKX Card expansion across the EU.
- Europe’s regulatory clarity is accelerating integration of stablecoins into mainstream finance.
The authorization is issued under the EU’s payments framework and aligns OKX’s stablecoin payment services with the bloc’s Markets in Crypto-Assets Regulation (MiCA) and the Second Payment Services Directive (PSD2), reports Cointelegraph.
Under these rules, crypto-asset service providers offering payment products tied to stablecoins must hold either a PI or Electronic Money Institution (EMI) license. OKX’s approval comes more than a year after it obtained its MiCA license from the Malta Financial Services Authority in January 2025. CEO of OKX Europe Erald Ghoos said the move reflects Europe’s preference for regulatory clarity and strong guardrails around digital money.
Stablecoins move further into regulated payments
The PI license allows OKX to offer stablecoin-based payment services under full regulatory oversight, supporting the growing role of stablecoins in cross-border transactions. Ghoos argued that stablecoins can modernize payments by reducing friction and improving efficiency, but only within clear compliance standards.
Europe’s structured approach under MiCA is increasingly shaping how exchanges build consumer-facing financial products. The OKX license highlights the region’s push to integrate crypto payments into the regulated financial system rather than leaving them in legal uncertainty.
OKX Pay and Card rollout gains momentum
OKX said the license will cover products such as OKX Pay and the OKX Card, which enable users to spend crypto assets and stablecoins in everyday transactions. Launched in late January, the OKX Card supports spending in stablecoins including Circle’s USDC and Paxos-issued Global Dollar (USDG).
The approval positions OKX to scale payment offerings across the EU as stablecoins become a more central pillar of digital finance. With regulatory permissions now in place, the exchange could accelerate its push into consumer payments and compete more directly with traditional fintech providers.
Recently we wrote that banking giant Morgan Stanley is expanding its digital asset strategy by hiring a lead engineer to develop infrastructure for DeFi and the tokenization of risk-weighted assets (RWA).
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