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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