Crypto exchange OKX said its expansion into regulated markets drove growth in 2025, citing its US market entry and European licensing under the Markets in Crypto-Assets framework.
The exchange received its full MiCA license on January 27, 2025, and launched US operations in April.
OKX now operates across 28 European Economic Area countries through MiCA passporting rights.
The company established its US headquarters in San Jose, California, and appointed Roshan Robert as US CEO.
What Happened
MiCA created a single licensing regime for crypto service providers across the European bloc, becoming fully applicable to exchanges in December 2024.
OKX's Malta-based hub allows it to offer over 240 cryptocurrencies and 300 trading pairs to European users, including 60-plus euro-based pairs.
The exchange provides spot trading, OTC trading, and bot trading with localized languages, currencies, and payment methods across the EEA.
In the United States, OKX's April entry coincided with positive regulatory developments including passage of the GENIUS Act in July.
The legislation established a federal framework governing stablecoin issuance and use.
The stablecoin market has grown to more than $310 billion, with dollar-backed tokens Tether's USDT and Circle's USDC accounting for approximately 85% of total supply.
CoinMarketCap ranks OKX fourth globally among cryptocurrency exchanges.
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Why It Matters
Several major platforms secured MiCA approvals in 2025 allowing them to passport services across the European Economic Area.
Bybit received authorization from Austria's Financial Market Authority and established Vienna as its European headquarters.
Coinbase obtained a MiCA license from Luxembourg and designated the country as its regional base.
Kraken followed with approval from the Central Bank of Ireland, building on earlier licenses.
Gemini secured authorization from Malta's Financial Services Authority in August.
The GENIUS Act requires stablecoin issuers to hold 100% reserves backed by US dollars or short-term Treasury bills.
Issuers must make monthly public disclosures of reserve composition and comply with anti-money laundering requirements.
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