OKX secures a MiFID II license through acquiring a Malta-registered company, reinforcing its market stance.
OKX's Expansion in Europe
OKX announced obtaining a MiFID II license which will enable them to offer a wider range of derivative products in the Euro Area. The acquisition of a Malta-registered company was a primary strategy to comply with EU financial regulations.
Impact of the MiFID License
Securing the MiFID license allows OKX to offer advanced servicing to institutional clients, including derivatives and futures. It also enhances KYC procedures and diversifies payment gateways. Localization into multiple European languages underscores OKX's ambition to enter a new market.
Decentralized Services and Investigations
OKX is under investigation regarding the use of its decentralized services to launder funds stolen during the Bybit hack. The regulatory questions surrounding such decentralized services remain unresolved, potentially impacting operational permissions in the Euro Area.
With the MiFID II license, OKX strengthens its foothold in the European market despite current challenges with decentralized services.
