Crypto exchange OKX has obtained a Payment Institution (PI) license in Malta, a key step to ensure its stablecoin payment services comply with upcoming European Union regulations.

This license aligns OKX with the Markets in Crypto-Assets (MiCA) regulation and the Second Payment Services Directive (PSD2). Under these new rules, which take full effect in 2026, crypto firms handling stablecoin payments must hold a PI or Electronic Money Institution (EMI) license. The move solidifies the regulatory standing for OKX's payment products, including OKX Pay and the OKX Card, which facilitates everyday spending using stablecoins.

The development signals a proactive approach by major exchanges to meet Europe's comprehensive crypto framework. Securing the license ensures OKX can continue to expand its services, which it recently bolstered through a partnership with Mastercard for a crypto payment card in Europe.