| Key Points: – OKX secures Malta Payment Institution license to expand EU stablecoin payments. – MFSA authorization intersects with MiCA obligations; EU access requires PSD2 passporting. – FIAU fined OKX €1.1M for 2023 AML failures; licensing doesn’t erase violations. |
OKX has obtained a Malta Payment Institution license, positioning OKX Pay and the OKX Card to expand stablecoin payments across the EU as new rules approach March 2026, as reported by CoinDesk (https://www.coindesk.com/policy/2026/02/16/okx-snags-european-payments-license-for-stablecoin-and-crypto-card-expansion).The authorization falls under the Malta Financial Services Authority (MFSA) and interacts with EU crypto-asset obligations under MiCA. Any EU-wide rollout depends on PSD2 passporting and host-state conduct rules, so access is not automatic.According to Malta’s Financial Intelligence Analysis Unit (FIAU), OKX received a €1.1 million penalty for 2023 anti–money laundering control failures. Licensing does not erase past violations, and enforcement may be retrospective.
MiCA and PSD2: dual rules for stablecoin payments and cards
MiCA targets the issuance and governance of crypto-assets, including stablecoins, while PSD2 governs payment services and card issuance. According to Coindoo (https://coindoo.com/okx-expands-eu-presence-with-regulated-stablecoin-payment-license/), stablecoin payment offerings generally require a Payment Institution or EMI license in addition to MiCA to satisfy EU requirements.Company statements have framed the strategy as building within guardrails before scaling payments. “Stablecoins can meaningfully modernize money … but only if built within strong regulatory guardrails,” said Erald Ghoos, CEO of OKX Europe.The practical path to 2026 typically involves staged passporting notifications, card and payments partner integrations, merchant testing, and updated disclosures. Availability may vary by country and product scope during that period. At the time of writing, Coinbase Global, Inc. (COIN) last closed at 164.32 USD, based on data from NasdaqGS; this is contextual only.
Availability and user checks before using OKX Pay in EU
How passporting works for a Malta Payment Institution
Under PSD2, a Malta-authorized Payment Institution can “passport” by notifying the MFSA and host states before offering services cross-border. Host-state rules may still apply, and launches are often phased.Card programs can involve separate licensed issuers and card-scheme requirements. Timelines depend on notifications, partner onboarding, and local compliance readiness, so availability can differ by market.
What to confirm: country support, KYC, dispute options
Confirm your country is currently supported and whether OKX Pay and the OKX Card are live or in rollout. Review KYC requirements, usage limits, and any token restrictions that may apply.Clarify dispute handling and chargeback pathways under PSD2 and card-network rules. Check how customer support, complaints, and reversals are handled in your jurisdiction before using the service.
Disclaimer:
The information provided on AiCryptoCore.com is for educational and informational purposes only and does not constitute financial, investment, or trading advice. Cryptocurrency investments involve risk and may result in financial loss. Always conduct your own research and consult with a qualified financial advisor before making any investment decisions.
