OKX obtained its MiCA license in January 2025 and is now expanding institutional offerings in Europe, working with Standard Chartered to cater to EU institutions. The move comes as European banks, hedge funds, family offices, and insurance firms show increasing interest in crypto. The continent’s crypto scene has struggled compared to the U.S., but with new regulations taking effect, the tide may be turning.
OKX became the first global exchange to secure a MiCA license, with the process being relatively straightforward due to existing compliance measures. Demand for institutional solutions is rising, leading OKX to partner with Standard Chartered for custody solutions without direct deposits. The move aims to mitigate risks and attract more institutional players to the crypto space.
The industry has learned from past challenges like the collapse of FTX, leading to improved risk management. OKX and other firms are strengthening risk teams and acquiring talent from major banks. Despite progress, European institutions lag behind their U.S. counterparts in adopting crypto. However, there is a cultural shift happening, with growing interest from funds, family offices, and insurance firms.
The rise of institutional interest in crypto is expected to benefit retail users as well, with increased liquidity and better pricing on platforms like OKX. Banks are responding to retail demand for access to crypto, with integration plans to improve user experience and security. As adoption rises, Ghoos compares crypto’s current stage to the early days of the internet, suggesting a breakout point may be near.
With regulatory clarity, improved DeFi accessibility, and institutional interest on the rise, the pieces of the crypto puzzle are falling into place for mass adoption. OKX’s expansion in Europe, along with partnerships and regulatory advancements, signal a cultural shift towards crypto acceptance in the region.
Read more at Yahoo Finance: Crypto’s Cultural Shift is Finally Happening in Europe, With OKX EU CEO Erald Ghoos