OKX Expands Regulated Crypto Derivatives in Europe

TLDR

• OKX launched X-Perps across all 30 European Economic Area countries through its Malta-based MiFID entity.
• The exchange structured X-Perps as five-year expiry futures contracts to comply with MiFID II rules.
• The platform offers up to 10x leverage and supports multi-asset collateral, including euros, US dollars, and crypto assets.
• Traders can access pairs linked to Bitcoin BTC, Ether ETH, XRP XRP, Dogecoin DOGE, and Pepe PEPE.
• OKX ranked second in global crypto derivatives trading volume in the first quarter of 2026 with $2.19 trillion.

OKX has launched a Europe-focused crypto derivatives product called X-Perps through its Malta-based MiFID entity. The exchange made the product available to retail and institutional traders across all 30 European Economic Area countries. The rollout expands OKX’s regulated derivatives offering under the European Union’s Markets in Financial Instruments Directive framework.

OKX expands regulated derivatives access across the EEA

OKX confirmed that X-Perps operates under its Malta-based MiFID-licensed business. The company acquired the licensed entity in March 2025 to expand derivatives services across the EEA.

The exchange stated that the platform complies with the Markets in Financial Instruments Directive rules governing securities and derivatives. As a result, traders across 30 EEA countries can access the new product within a regulated structure.

OKX Europe CEO Erald Ghoos addressed the product structure during Paris Blockchain Week. He said, “Perpetual derivatives cannot exist under MiFID II because they would otherwise be classified as contracts for difference.”

He added that the exchange structured X-Perps as five-year expiry futures contracts to meet regulatory requirements. Therefore, the company aligned the product with European compliance standards.

Ghoos also stated on X that about 95% of crypto derivatives trading volume still occurs offshore. He said, “With X-Perps, we are bridging that gap under a fully regulated exchange where we offer great liquidity.”

Bitcoin, Ether and XRP among supported pairs

OKX stated that X-Perps supports multi-asset collateral, including euros, US dollars, and crypto assets. The platform offers up to 10x leverage on five-year expiry crypto derivatives contracts.

At launch, traders can access pairs linked to major digital assets. These include Bitcoin (BTC), Ether (ETH), and XRP (XRP).

The platform also lists memecoins such as Dogecoin (DOGE) and Pepe (PEPE). OKX said it plans to roll out more trading pairs over time.

The exchange shared the launch details in an announcement with Cointelegraph. The company stated it will explore high-demand products for both retail and institutional traders.

According to CoinGlass data, OKX ranked as the second-largest crypto derivatives exchange in the first quarter of 2026. The exchange recorded $2.19 trillion in cumulative quarterly trading volume.

Binance led the rankings with $4.9 trillion in quarterly derivatives volume during the same period. The data reflects exchange activity for the first quarter of 2026.

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