OKX Europe Launches MiFID-Regulated Derivatives Product X-Perps

OKX Europe is making waves in the European cryptocurrency market with the launch of its MiFID-regulated derivatives product, X-Perps. The company's CEO, Erald Ghoos, spoke to us about the product and his team's strategy to bring liquidity back onshore in Europe.

X-Perps is designed to capture massive market share by offering regulated expiry futures with up to 10x leverage. This is a significant departure from traditional offshore exchanges, which often lack consumer protection measures. To ensure users are aware of the risks involved, OKX has implemented a rigorous assessment of suitability and appropriateness, including a thorough knowledge test and educational background assessment.

According to Ghoos, Europe's strong reputation for user protection was a key factor in developing X-Perps. 'We have established strict guardrails to meet those exact standards,' he explained. 'Our regulator granted the licence with very clear conditions, and we restrict extreme leverage levels such as 100x.' The company has also implemented mandatory margin call warnings and defined operational procedures.

OKX Europe's success in obtaining a MiCA licence and expanding quickly into the European market can be attributed to its proactive regulatory engagement. The company set up local teams and applied for crypto licences across seven global jurisdictions, including Malta, where it is based. 'We immediately committed to full compliance and proactive regulatory engagement,' Ghoos said.

Looking ahead, OKX Europe plans to expand its offerings in several new financial services, including AI-powered tools such as Agent Wallet. The company aims to build a single app that allows users to manage all their financial services seamlessly.