OKX Receives Stablecoin Related PI License for European Advancement

TheNewsCryptoPublished on 2026-02-16Last updated on 2026-02-16

Abstract

OKX, a cryptocurrency exchange, has obtained a Payment Institution (PI) License in Malta, significantly expanding its access to the European market. This license ensures compliance with the EU's MiCA and PSD2 regulations, specifically authorizing stablecoin-related payment services. The approval supports OKX's existing products, including the OKX Card launched with Mastercard, which allows users to pay with stablecoins at any merchant accepting Mastercard across the European Economic Area. According to OKX Europe CEO Erald Ghoos, this regulatory milestone enables compliant operations and supports the growing adoption of stablecoins in the EU. The development occurs amid global regulatory discussions, including U.S. efforts to pass federal digital asset rules.

OKX, a crypto exchange platform, has gained a broader and more advanced access to the European market through a PI license. It essentially pertains to stablecoin payments with extensive support for OKX Pay and OKX Card. The CEO of OKX Europe has hailed the progress by citing the importance of compliance.

PI License for OKX

OKX has received the PI License, acronym for the Payment Institution License, and its operations are now in line with Market in Crypto-Assets regulations along with the Second Payment Services Directive.

Alternatively known as MiCA and PSD2, respectively, both are crucial for establishing legitimate operations across the European Union for payments related to stablecoins (or electronic money tokens, as per legal classification).

The PI License, obtained in Malta, has taken OKX a step forward in complying to requirements that are scheduled to go into effect in March 2026.

Support for OKX Products

OKX, in January 2026, launched a Crypto Payment Card in association with Mastercard. Operations span across the European Economic Area and are compatible with merchants that accept Mastercard. Simply put, users of OKX Card can pay Mastercard-accepting merchants with stablecoins. The PI License brings support specifically to such products by the crypto platform.

The CEO of OKX Europe, Erald Ghoos, has said that securing the Payment Institution License now enables its products to operate on a compliant footing. Notably, the stablecoin adoption is growing in the European Union (EU) to challenge the dominance of the US stablecoin market in the region.

Most importantly, the products of OKX and regulatory clarity on stablecoins is facilitating the entrance of stablecoins in mainstream finance across the EU.

Another Advancement

An update from OKX in the European region has come days after U.S. Treasury Secretary Scott Bessent expressed the importance of passing federal rules for digital assets. He has urged Congress to give its approval by this Spring. Bessent believes that giving a green light to the Clarity Act or similar federal rules would provide comfort to the market and the community.

Meanwhile, the global stablecoin sector is seeing the rise of World Liberty Financial’s USD1 to the top. It is currently placed 5th in terms of market cap; however, it is closing in on DAI for the 4th position. Overall, USD1 ranks 20th with a market cap of over $5.25 billion.

USDT and USDC are still in first and second places, respectively, on the list of stablecoins.

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Related Questions

QWhat type of license did OKX receive for its European operations, and what does it stand for?

AOKX received the PI License, which stands for Payment Institution License.

QWhich two key regulatory frameworks is OKX's PI License operation now in line with?

AThe PI License operation is in line with the Market in Crypto-Assets (MiCA) regulations and the Second Payment Services Directive (PSD2).

QWhat specific OKX products are supported by the new PI License, as mentioned in the article?

AThe PI License brings support for OKX Pay and the OKX Card, which allows users to pay Mastercard-accepting merchants with stablecoins.

QAccording to the CEO of OKX Europe, what does securing the Payment Institution License enable for their products?

ASecuring the Payment Institution License enables OKX's products to operate on a compliant footing in the European market.

QWhich stablecoins are currently in first and second place by market cap, as mentioned in the article?

AUSDT (Tether) is in first place and USDC (USD Coin) is in second place by market cap among stablecoins.

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