OKX, one of the largest crypto exchanges by trading volume, has selected Malta as its MiCA hub as the new regulatory framework rolls out across the European Union.

The firm said it chose Malta over other jurisdictions due to the country’s high regulatory standards and “forward-thinking” approach to blockchain and cryptocurrency, as well as OKX’s existing personnel and infrastructure based in the Mediterranean island.

Under the MiCA framework in the EU, OKX plans to offer spot trading, including EUR and USDC pairs, along with buy, sell, convert and staking services to eligible EU residents through its Malta entity. Once fully effective on Dec. 30 this year, MiCA will enable crypto-asset exchanges to passport into EU countries and provide services across the entire region, OKX said.

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