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- Germany and Poland already have fully regulated centralized cryptocurrency exchanges thanks to OKX Digital Asset Exchange.
- According to the company, users from both countries can now access over 270 cryptocurrencies, including more than 60 crypto-euro pairs, deep liquidity, and minimal fees.
- The launch followed OKX’s acquisition of a MiFID II license and a MiCA license in Europe earlier this year.
Germany and Poland already have fully regulated centralized cryptocurrency exchanges thanks to the OKX cryptocurrency exchange. According to the company, the launch represents a dedication to constructing the future of crypto security, transparency, and localization.
Though the company is entering areas where local regulators have been stepping up their inspection of digital currency service providers, the twin launch in Germany and Poland came after events that highlighted OKX’s compliance focus.
Before MiCA is fully implemented, Poland has been trying to bring its national standards into line with more general EU principles, while Berlin has seen authorities tighten license requirements.
MiCA replaces the dispersed national regions that once supervised crypto activity with uniform regulations for asset issuance, custody, trading, and transparency obligations across member nations. Additionally, the license offers more legal certainty for firms navigating Europe’s complex financial regulations.
According to the exchange, users in Poland and Germany may now access over 270 digital assets, including more than 60 crypto-euro pairs, substantial liquidity, and cheap fees. According to the company, clients from both nations may simply buy digital assets using cards and other regional payment methods, as well as deposit and withdraw euros for free using SEPA transfers and local bank transfers. Additionally, the cryptocurrency corporation translated its systems to accommodate regional customer care teams and native languages.
OKX welcomed Gabriel Manduca as General Manager for Eastern Europe and Moritz Putzhammer as General Manager for Central Europe and the Nordics. The company claims that both people have extensive knowledge of CeFi and DeFi, and they are already forming alliances, interacting with authorities, and ensuring their users’ voices are heard.
“These two countries are key growth markets in Europe, and we wanted to make sure we got it right. That means building regulated, localized platforms that not only meet compliance standards but actually deliver on what our users care about: performance, simplicity, and trust.”
–OKX.
The cryptocurrency platform said that automated trading bots, staking, and spot trading are available to customers in Poland and Germany. Additionally, they can use tools like buy/sell options to access euro deposits and withdrawals. Additionally, OKX provides customers from both countries with an expanding range of reward goods and regional features designed specifically for European users.
OKX obtains permits to offer its services in Europe
Through its European Economic Area (EEA) center in Malta, OKX said its MiCA license enables it to provide its regulated goods and services to more than 400 million people throughout Europe.
In February, the crypto exchange also began passporting its MiCA license from its Malta hub to all 30 EEA member states. According to OKX, the feature of the MiCA law allows businesses registered and licensed in one EU country to offer their services in another EU country under a unified regulatory framework.
According to the company, its objective is to introduce cryptocurrency globally, not just in Europe. In order to guarantee that European users can trade with confidence on a regulated platform, the exchange expects that MiCA passporting can grow even more.
The purchase of a Markets in Financial Instruments Directive (MiFID II) license company was also disclosed by OKX on March 12. The company admitted that, subject to Malta Financial Services Authority (MFSA) permission, the entity is anticipated to go live later this year.
The MiFID II authorization, according to OKX Europe CEO Erald Ghoos, enhances the company’s standing in Europe and demonstrates its dedication to security, innovation, and regulatory compliance. Ghoos contended that the license will enable the company to collaborate with tier-1 organizations and provide institutional-grade services.
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