OKX Wins Malta License to Expand Stablecoin Payments Across Europe
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OKX has secured a payment institution license in Malta to offer stablecoin payment services across the EU, in line with the upcoming MiCA and PSD2 regulations. This approval supports the launch of OKX Pay and a Mastercard-backed crypto card, allowing stablecoin transactions at a market spread of 0.4% and promotional rewards of up to 20%.
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- Under MiCA and PSD2 rules OKX secured a Malta license to offer stablecoin payment services across the EU.
- The approval supports OKX Pay and its Mastercard-backed crypto card for real-world stablecoin spending.
- The card converts stablecoins at checkout with a 0.4% market spread and offers up to 20% promotional rewards.
Cryptocurrency exchange OKX has obtained a payment institution (PI) license in Malta, allowing it to offer stablecoin payment services across the European Union in line with new regulatory rules that take effect in March.
The license ensures compliance with the Markets in Crypto-Assets (MiCA) regulation and the Second Payment Services Directive (PSD2). Under PSD2, crypto service providers that handle payment activities involving stablecoins, classified as electronic money tokens, must hold a payment institution or electronic money institution authoriz…
Read The Full Article OKX Wins Malta License to Expand Stablecoin Payments Across Europe On Coin Edition.
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