OKX Acquires License in Europe to Launch Derivatives for Institutional Clients

OKX has secured a Markets in Financial Instruments Directive (MiFID II) license, which after approval, will allow the exchange to launch a range of derivative products and services for institutional clients in the region.

Making the announcement at a VIP event at Manoel Island, Malta, on 12 March, the exchange said the license is a step towards ensuring full compliance with European regulations.

In January, OKX received MiCA pre-authorization, marking a pivotal step in its expansion across the European Economic Area (EEA).

The MiCA framework, introduced by the European Union, aims to establish a comprehensive regulatory framework for digital assets, ensuring consumer protection, transparency, and market integrity.

With the license, the OKX’s European platform has been able to provide customers with access to a variety of trading services, including OTC trading, spot trading, and bot trading, featuring over 240 cryptocurrency tokens and 300+ trading pairs, including more than 60 Euro-based pairs.

Adding derivatives under MiFID II allows institutional customers to benefit from advanced and fully compliant trading products designed for their local markets.

“Our class-leading website and app are available in local languages, feature local currency displays, and offer local-language customer support across Europe,” the company noted.

European customers can also deposit and withdraw euros at no cost via simple bank transfers and purchase crypto using cards and other trusted local payment methods.

Looking ahead, OKX plans to introduce smoother KYC processes, expand payment options, and roll out new localized products and services. Another key aspect of OKX’s European expansion is community building.

“We believe our customers can gain so much more from the OKX experience when they're surrounded by and can participate in a thriving, collaborative community,” the exchange said, revealing it is planning local events, partnerships with key opinion leaders, and brand initiatives featuring well-known European creators and brands.

The license comes just days after OKX denied claims that the EU is investigating its involvement with the recent Bybit hack.

Last month, Bybit fell victim to a security breach resulting in the theft of around $1.5 billion in Ethereum. The attack occurred during a routine transfer from Bybit's offline "cold" wallet to a "warm" wallet used for daily operations.

The attack occurred during a routine transfer from Bybit's offline "cold" wallet to a "warm" wallet used for daily operations, Bybit explained. Hackers exploited this process by manipulating the transaction, gaining control over the cold wallet, and transferring 401,000 ETH to an unidentified address.

Bybit CEO Ben Zhou claimed that 8%—around $100 million— of the Lazarus Group laundered stolen funds passed through a decentralized OKX wallet. Bloomberg then reported that EU regulators are assessing whether OKX’s Web3 services fall under MiCA, potentially linking the exchange to sanctions violations.

"European crypto regulators are scrutinizing the use of a service offered by OKX, one of the largest digital-asset exchanges, by hackers to launder proceeds from a $1.5 billion heist on trading platform Bybit, people with knowledge of the matter said," Bloomberg wrote.

In a tweet, OKX dismissed the article as "misleading" and stated that when ByBit was hacked, OK froze associated funds moving into its CEX and developed a "new feature to detect/block hackers' addresses from using our DEX or wallet services."