Back
OKX Secures Malta Payment License for EU Stablecoin Services

OKX Secures Malta Payment License for EU Stablecoin Services

According to OKX, Malta’s Payment Institution license enables EU-compliant stablecoin payments under MiCA and PSD2, supporting OKX Pay and a Mastercard-linked card as the exchange scales regulated services across Europe.

Fact Check
Multiple independent, credible crypto and fintech news outlets with high authority and direct relevance report that OKX has indeed obtained a payment services (Payments Institution) license in Malta from the Malta Financial Services Authority. These reports consistently specify that the license will enable OKX to offer stablecoin-related payment services, along with other crypto payment products, across the European Union. The coverage includes well-known and specialized sources such as CoinDesk and Cointelegraph, all citing the Maltese license and its role in EU expansion. The details are coherent across sources, including the licensing authority, the purpose (stablecoin services), and the geographical scope (EU). No credible source contradicts the claim, and the accounts are explicit rather than speculative. This consistency across multiple high-authority sources, without dispute or contradictory reporting, supports a high-probability assessment that the statement is true.
Summary

In an official press release, OKX said it obtained a Malta Payment Institution (PI) license, allowing it to continue offering EU-wide stablecoin payment services in compliance with MiCA and PSD2. The company noted that under PSD2, crypto firms conducting stablecoin payments—classified as electronic money tokens (EMTs)—must hold a PI or electronic money institution (EMI) authorization. OKX Europe CEO Erald Ghoos said the license ensures OKX Pay and the OKX Card operate on a compliant footing. OKX recently launched a European crypto payment card with Mastercard, and its venture arm backed stablecoin platform STBL.

Terms & Concepts
  • MiCA (Markets in Crypto-Assets): EU regulation establishing unified rules for crypto assets and service providers across member states.
  • PSD2 (Second Payment Services Directive): EU directive governing electronic payments, setting standards for licensing, security, and competition among payment providers.
  • Electronic money tokens (EMTs): Stablecoins legally treated as electronic money under EU rules; providers must hold PI or EMI authorization to offer payment services.