Cryptocurrency exchange OKX has obtained a Payments Institution license in Malta, positioning the company to expand its stablecoin payment services and crypto card offerings across the European Union under upcoming regulatory standards.
The license brings OKX into alignment with the EU’s Markets in Crypto Assets regulation and the Second Payment Services Directive, both of which introduce stricter requirements for crypto asset service providers engaged in payment activities. The updated framework, which takes effect in March 2026, requires firms handling stablecoin based payments to hold either a Payments Institution or Electronic Money Institution authorization.
Stablecoins used for payments in the European Union are classified as electronic money tokens under MiCA. This classification subjects issuers and service providers to rules similar to those governing traditional electronic money products. By securing the Malta based license, OKX gains the regulatory foundation to continue offering stablecoin related services throughout the bloc without disruption.
The exchange has recently introduced several payment focused products in Europe, including OKX Pay and the OKX Card. The crypto payment card, launched in partnership with Mastercard, enables users to spend digital assets for everyday purchases. With the Payments Institution license in place, these products can operate within a fully compliant regulatory structure, supporting cross border functionality and consumer protections under EU law.
European regulators have emphasized the need for oversight as stablecoins move into mainstream financial use. MiCA establishes reserve requirements, governance standards and transparency obligations for stablecoin issuers, while PSD2 governs payment services and electronic money activities. Together, the frameworks aim to integrate digital asset payments into the broader financial system while maintaining safeguards around risk management and anti money laundering controls.
Malta has positioned itself as a regulatory hub for digital asset companies seeking European authorization. By obtaining the license there, OKX can passport its services across other EU member states, enabling a unified operational model under a single supervisory regime.
The move also reflects broader industry momentum toward compliant expansion in regulated markets. As stablecoins increasingly function as settlement tools for retail payments and online commerce, exchanges and fintech firms are seeking formal licensing to bridge crypto infrastructure with traditional payment networks.
OKX has signaled continued interest in the stablecoin sector through its investment arm, which has backed infrastructure projects related to token issuance and on chain payments. The latest regulatory milestone underscores the exchange’s strategy of embedding stablecoins into everyday financial products under established European rules.
