- Crypto exchange OKX is expanding its offering in the EU and introducing a new rewards program for customers in the EEA.
- It is reacting to the new EU crypto regulation and the associated restrictions on comparable offers from other providers.
In the “Crypto Rewards” rewards program, customers can deposit USDC, Bitcoin, Ether or Solana into a flexible earnings program. Returns are calculated continuously and credited hourly.
3.5 percent ROI per year
For USDC, OKX cites an average annual return of 3.5 percent. There is no fixed term or lock-up period, which distinguishes the product from classic staking and lock-up models, which are now subject to new requirements in the EU.
OKX emphasizes that the new offer is fully compatible with the applicable EU regulations. The background is the introduction of the EU MiCA regulations, which reorganizes the market for crypto services and, in particular, regulates income and interest products more closely.
Several international stock exchanges have already restricted or suspended their earn programs in Europe to avoid regulatory risks.
OKX is recommended as a long-term partner
Several international stock exchanges have already restricted or suspended their earn programs in Europe to avoid regulatory risks.
OKX still sees growing demand for simple, transparent revenue models, especially in the area of stablecoins. Many European customers hold large holdings of USDC and USDT without using them productively.
OKX wants to close this gap and at the same time recommend itself as a long-term partner for investors in the European market.
With the introduction of the new rewards program, OKX is sending a signal that the European Economic Area – which extends beyond the EU – is still viewed as a strategically important market despite stricter regulation.
It remains to be seen whether the offer will also encourage other providers to reassess their presence in the earn segment
No Comments