Overview
- Malta’s financial regulator granted OKX a Payment Institution license that enables stablecoin-related payment services across the European Union in line with MiCA and PSD2.
- Under PSD2, payment activities involving stablecoins treated as electronic money tokens require PI or EMI authorization, which this approval satisfies.
- OKX says the license places OKX Pay and the Mastercard-linked OKX Card on a fully compliant footing for everyday transactions.
- The OKX Card launched in Europe at the end of last month, with crypto-to-fiat conversion handled within a regulated process.
- OKX Ventures recently invested in stablecoin platform STBL, underscoring the company’s push to build compliant stablecoin infrastructure.