Crypto exchange OKX Europe has acquired a Malta-licensed firm with a Markets in Financial Instruments Directive II (MiFID II) license, bringing it a step closer to offering regulated derivatives products throughout Europe, the firm said in a statement on Wednesday.
The entity is expected to become operational later this year, once the exchange gets approval from the Malta Financial Services Authority (MFSA). The exchange did not say which firm it acquired.
With its MiFID II license, OKX will be able to provide regulated derivatives products and services to its institutional clients in the European Economic Area, which includes 27 European Union member states as well as Iceland, Liechtenstein and Norway.
This is another step solidifying the third-largest exchange in terms of market cap in the EU, the release said. It attained a Markets in Crypto Assets license from Malta in January.