Cryptocurrency exchange OKX has secured a Payment Institution license in Malta, expanding its regulatory compliance in the European Union. The license allows OKX to offer its OKX Pay and OKX Card payment products in line with the EU’s Markets in Crypto-Assets Regulation and the Second Payment Services Directive. This move follows a MiCA license the exchange received from the Malta Financial Services Authority in January 2025 and is designed to support stablecoin-based payment services.
Cryptocurrency exchange OKX expanded its regulatory footprint in Europe by securing a Payment Institution license in Malta. The authorization is issued under the European Union’s payments framework.
The license is designed to bring OKX’s payment products into compliance with the bloc’s Markets in Crypto-Assets Regulation and the Second Payment Services Directive. Under these rules, crypto-asset service providers offering payment services with stablecoins must hold such an authorization.
OKX’s PI license comes more than a year after the exchange received a MiCA license from the Malta Financial Services Authority in January 2025. The exchange stated the license will cover products including OKX Pay and the OKX Card.
“Securing a Payment Institution license ensures that these products operate on a fully compliant footing,” OKX Europe CEO Erald Ghoos said. He added, “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.”
Officially launched in late January, the OKX Card supports spending in stablecoins. These include Circle’s USDC and the Paxos-issued Global Dollar.
