Cryptocurrency exchange OKX has obtained a payment institution (PI) license in Malta, aligning with European Union regulatory requirements that take effect in March.

The license allows OKX to continue offering stablecoin-related payment services across the EU in full compliance with the Markets in Crypto-Assets (MiCA) regulation and the Second Payment Services Directive (PSD2), the company said in a press release on Monday.

Under the updated PSD2 framework, crypto-asset service providers engaging in payment activities involving stablecoins, legally classified as electronic money tokens (EMTs), must hold a PI or electronic money institution (EMI) authorization.

“We have recently launched real-world payment products, including OKX Pay and…