OKX Gains Malta PI License for EU Stablecoin Expansion

OKX Gains Malta PI License for EU Stablecoin Expansion

Cryptocurrency exchange OKX has significantly broadened its regulatory presence within Europe by acquiring a crucial payment institution license from Malta. This development allows the platform to enhance its stablecoin-related payment offerings across the European Union in full compliance with regional standards.

OKX announced on Monday that it has successfully obtained a Payment Institution (PI) license from Maltese authorities. This approval operates under the comprehensive European Union payments framework, specifically aligning OKX’s suite of payment solutions with the stringent requirements outlined in the Markets in Crypto-Assets Regulation (MiCA) and the Second Payment Services Directive (PSD2). These regulations establish clear guidelines for how digital asset platforms must structure their operations to ensure security, transparency, and consumer protection.

For crypto-asset service providers (CASPs) that facilitate payment services linked to stablecoins, securing either a PI license or an Electronic Money Institution (EMI) authorization is mandatory. This licensing requirement underscores the EU’s commitment to fostering a regulated environment where stablecoin transactions can thrive without compromising financial stability. OKX’s achievement with the PI license follows its earlier milestone over a year prior, when it secured MiCA pre-authorization from the Malta Financial Services Authority (MFSA) back in January 2025, marking a steady progression in its European compliance journey.

OKX’s Malta PI License Unlocks Comprehensive EU Payment Capabilities

Public records from the MFSA confirm that OKX’s PI license was formally issued on February 11. The company’s official website categorizes this as a Financial Institution license, reflecting its expanded scope of operations. This authorization empowers OKX to deliver a complete spectrum of payment services throughout the entire European Union, catering to diverse user needs with reliability and efficiency.

Key functionalities enabled by the license include allowing users to deposit and withdraw fiat currency into and from their payment accounts seamlessly. It also supports all essential account management operations, ensuring that customers can handle their funds with ease and confidence. Beyond basic account handling, the license extends to the execution of various payment transactions, making everyday financial activities smoother for OKX users across borders.

Source: MFSA

Among the supported transaction types are direct debits, which automate recurring payments; card-based transactions using debit or credit cards and similar payment devices; and credit transfers like standing orders. These features facilitate fluid fund movements not only between OKX users but also with external payment service providers, creating a more interconnected and efficient payment ecosystem within the EU.

License Powers Rollout of OKX Pay and OKX Card Services

OKX has emphasized that this new license directly bolsters its innovative product lineup, particularly OKX Pay and the OKX Card. These tools are designed to enable users to spend their cryptocurrency holdings, including stablecoins, in real-world scenarios, bridging the gap between digital assets and traditional commerce.

The OKX Card, which was officially introduced toward the end of January, specifically accommodates spending in prominent stablecoins such as Circle’s USDC and the Global Dollar issued by Paxos. This capability positions OKX as a forward-thinking player in the crypto payment space, offering users practical ways to utilize their stablecoin balances for purchases and transactions.

Source: OKX

Erald Ghoos, CEO of OKX Europe, highlighted the strategic importance of this license, stating: “Securing a Payment Institution license ensures that these products operate on a fully compliant footing.” He further elaborated on the broader implications, noting: “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.”

This announcement arrives at an opportune moment, coinciding with upcoming discussions among eurozone finance ministers. They are scheduled to convene on Monday to explore strategies for elevating the euro’s prominence on the global stage. Central to these talks is the potential of euro-denominated stablecoins to fortify Europe’s economic security and competitiveness in the international financial landscape. OKX’s timely licensing success aligns perfectly with this evolving regulatory and economic dialogue, potentially positioning the exchange as a key contributor to these advancements.

By achieving this milestone, OKX not only strengthens its own service offerings but also contributes to the maturation of the stablecoin ecosystem in Europe. The PI license represents a robust foundation for future innovations, ensuring that users can engage with digital payments in a secure, regulated manner. As the EU continues to refine its crypto frameworks, platforms like OKX are demonstrating how compliance can drive growth and accessibility in the rapidly evolving world of blockchain-based finance.