OKX secured a Malta payment institution license to support EU-compliant stablecoin services, including OKX Pay and the OKX Card.
Cryptocurrency exchange OKX expanded its regulatory footprint in Europe, securing a license for stablecoin payments.
OKX has obtained a Payment Institution (PI) license in Malta, the company told Cointelegraph on Monday. The authorization is issued under the European Union’s payments framework and is designed to bring OKX’s payment products into line with requirements under the bloc’s Markets in Crypto-Assets Regulation (MiCA) and the Second Payment Services Directive (PSD2).
Under these rules, crypto-asset service providers (CASPs) offering payment services involving stablecoins must hold either a PI or Electronic Money Institution (EMI) authorization. OKX’s PI license comes more than a year after the exchange received a MiCA license from the Malta Financial Services Authority (MFSA) in January 2025.
OKX’s Malta PI license enables full EU payments
According to MFSA records, OKX’s PI license was issued on Feb. 11 and is listed as a Financial Institution license on the company website.
The license allows the exchange to provide a full range of payment services across the EU, including enabling users to deposit and withdraw cash from payment accounts and perform all operations required to maintain those accounts.
It also covers the execution of payment transactions, including direct debits, payments via cards or similar devices, and credit transfers such as standing orders, ensuring seamless movement of funds between users and other payment service providers.
License supports OKX Pay and OKX Card rollout
The exchange said the license will cover products including OKX Pay and the OKX Card, which allow users to spend crypto assets and stablecoins.
Officially launched in late January, OKX Card supports spending in stablecoins such as Circle’s USDC (USDC) and the Paxos-issued Global Dollar (USDG).
“Securing a Payment Institution license ensures that these products operate on a fully compliant footing,” OKX Europe CEO Erald Ghoos said, adding:
“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.”
The news comes as eurozone finance ministers will meet Monday to discuss how to boost the euro’s global role and strengthen Europe’s economic security through euro-denominated stablecoins.
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