OKX secures Malta payment institution license for EU stablecoin services

Crypto exchange with Chinese roots OKX announced today that it has obtained a Payment Institution (PI) license in Malta. The license, issued under the European Union's (EU) regulatory framework, allows OKX subsidiaries like OKX Pay and OKX Card to legally provide stablecoin services within the EU, Cointelegraph reported. Under current regulations, Crypto Asset Service Providers (CASPs) offering stablecoin-based payment services in the EU must obtain either a PI or an Electronic Money Institution (EMI) license.