Coinbase and OKX Poised to Capitalize on Binance's European Restrictions

Crypto exchanges Coinbase and OKX have launched sign-up incentives for European users just as their competitor Binance restricts services in the region.

The timing is hard to miss, with both campaigns landing within days of Binance telling its EU customers it would stop accepting new registrations and restrict certain services from July 1, after failing to secure a MiCA license on time.

Coinbase and OKX can continue to onboard European users after the deadline because they have secured CASP licenses in Luxembourg and Malta respectively. Binance has withdrawn its application in Greece and is seeking authorization in another EU country.

The two licensed exchanges are offering sign-up bonuses to attract new users: Coinbase is offering 5% on transfers up to July 13, while OKX is offering up to 8% on net deposits over 52 weeks. The campaigns target markets where Binance has restricted services or withdrawn its application.