#binance #hype #zec #near
16/02/26 11:56 UTC-04

OKX Obtains Authorization to Provide Payment Services in Europe

The license will allow OKX to provide payment services across the European Union, including cash deposits and withdrawals from accounts, as well as executing transactions necessary for maintaining those accounts. This includes payments using bank cards and transfers of funds between users and payment services.

The CEO of OKX’s European division, Erald Ghoos, clarified that the license will cover the OKX Pay and OKX Card products, which allow exchange clients to make payments using the USDC stablecoin issued by Circle and USDG (Global Dollar) issued by Paxos.

“Obtaining a payment institution license demonstrates that we comply with regulatory requirements. Europe has chosen clarity when it comes to digital asset regulation. Stablecoins can significantly improve money, enhance the efficiency of cross-border transactions, and accelerate payments — provided they are used within strict regulatory frameworks,” said Erald Ghoos.

In 2024, OKX obtained a Virtual Asset Service Provider (VASP) license to trade cryptocurrencies in Dubai. Last year, the Central Bank of the Netherlands fined OKX $2.6 million for operating in the European country without registration.

See also: "XRP Reserves on Binance Fell to the Lowest Level Since November 2024"

#OKX #European Union

Editor: Alyona Nabok
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