Crypto exchange OKX has secured a Payment Institution (PI) license in Malta. The license marks an important regulatory milestone as the European Union readies itself to implement new crypto payment regulations in March 2026.
The license will enable OKX to continue to offer stablecoin payment services in the European Union under both the Markets in Crypto-Assets Regulation framework and the Second Payment Services Directive.
The new license is in addition to the MiCA license that the exchange received in January 2025. According to the updated structure of the PSD2, any company that processes stablecoin transactions is required to have a PI license in addition to its MiCA license.
If they do not have this license, they are not allowed to provide services related to stablecoins, now defined as electronic money tokens.
Erald Ghoos, OKX Europe’s CEO, said that this license will enable them to further expand into real-world payment tools. Ghoos stated that products such as OKX Pay and OKX Card are meant to bring stablecoins into everyday transactions. The PI license ensures that these products operate under European regulatory standards.
OKX EU Approves OKX Payment Card
The authorization is immediately applicable to two recently launched products. In the last week of January, OKX launched a cryptocurrency payment card in Europe in association with Mastercard.
With the OKX Card, users can use stablecoins like Circle-issued USD Coin or Paxos-issued Global Dollar at over 150 million merchants across the globe. OKX Pay, in general, is also included in this authorization.
Moreover, Ghoos stated that Europe is moving toward clearer guidelines for digital assets. Ghoos emphasized that stablecoins can be beneficial for cross-border transactions, but for long-term growth, it is important to follow transparent guidelines.
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OKX Expands Europe With New License
With the PI license in place, OKX now has three significant licenses in Europe: the MiCA license (January 2025), the MiFID II derivatives license (March 2025), and the new stablecoin payment license. All licenses will be issued from Malta and will cover 28 EU/EEA countries.
In addition to this, OKX is also expanding its investment and infrastructure drive, with OKX Ventures investing in the stablecoin issuer STBL.
OKX Chief Investment Officer Jason Klau said at Consensus that OKX is working with Google and the Ethereum Foundation on secure AI-based offerings for X Layer and OKX Wallet, with automated agent-based payment systems potentially being the next step forward for on-chain expansion.
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