OKX Chooses Malta as Its MiCA Base to Target the European Union Market
- WBOYOriginal
- 2024-07-19 12:01:40322browse
After successfully launching its crypto exchange and Web3 wallet in Argentina and Türkiye earlier this year, OKX, a leading global crypto exchange, and Web3 tech company, is now focusing on Malta as its main hub to follow the European Union's MiCA rules.
OKX, a leading global crypto exchange and Web3 tech company, has announced that Malta will serve as its main hub for the European Union’s Markets in Crypto Assets (MiCA) rules.
As part of its ethos of being customer-focused and committed to regulation, OKX will leverage the MiCA rules to offer a full suite of services from Malta to users in the European Union (EU), including spot trading with Euro (EUR) and USD Coin (USDC) trading pairs.
This move aligns with OKX’s plan to launch Euro (EUR) and USD Coin (USDC) trading pairs, expanding its presence in the regulated European market and pushing forward its agenda to become the leading crypto-asset exchange in the European Union (EU) in record time.
OKX’s presence in Malta is further bolstered by Okcoin Europe Ltd, OKX’s local entity, which has held a Class 4 Virtual Financial Assets (VFA) Service Provider License from the Malta Financial Services Authority (MFSA) since 2021.
OKX’s selection of Malta as its MiCA hub is driven by the country’s favorable crypto regulations. Dubbed “Blockchain Island,” Malta has attracted blockchain and crypto firms owing to its clear regulations and favorable tax regime.
By establishing its MiCA hub in Malta, OKX can efficiently service the EU market while adhering to regulatory requirements.
Erald Ghoos, General Manager-Designate of OKX Europe, expressed optimism regarding this move.
“We’ve established our MiCA hub in Malta because it will enable us to provide world-class products to a diverse range of customers across Europe,” said Ghoos.
He highlighted the significance of new regulatory standards in safeguarding users and fostering the crypto industry’s sustainable growth.
With MiCA set to take full effect on December 30 this year, OKX’s strategic move positions the exchange to spearhead the European crypto market.
EU traders and investors can anticipate a secure and user-friendly platform that adheres to all relevant regulations.
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