OKX Expands X-Perps Derivatives Product Throughout Europe Under MiFID Framework
Through its Malta-based MiFID-licensed entity, the cryptocurrency exchange has made its new offering accessible throughout the European Economic Area, featuring multi-asset collateral options and leverage of up to 10x.
On Wednesday, OKX announced the launch of X-Perps, a crypto derivatives product tailored specifically for Europe, broadening its regulated services throughout the European Economic Area (EEA) via its MiFID-licensed business operating out of Malta.
According to the company's statement, both retail and institutional trading clients across the complete set of 30 EEA member countries now have access to this new derivatives product.
The exchange explained that the platform has been specifically designed to meet compliance standards set by the Markets in Financial Instruments Directive (MiFID), which is the European Union's regulatory structure that oversees financial instruments including securities and derivatives.
This product introduction comes on the heels of OKX's March 2025 disclosure regarding its acquisition of a MiFID-licensed business entity based in Malta, a strategic move that enabled the exchange to broaden its derivatives trading services throughout the EEA region.
Platform features multi-asset collateral and up to 10x leverage
According to OKX, X-Perps provides crypto derivatives products with five-year expiration periods, leverage capabilities reaching up to 10x, and compatibility with multiple asset types as collateral, encompassing euros, US dollars and various crypto assets.
Upon its initial release, the platform provides trading pairs for a wide array of crypto assets, incorporating leading cryptocurrencies like Bitcoin (BTC), Ether (ETH) and XRP (XRP), alongside popular memecoins including Dogecoin (DOGE) and Pepe (PEPE).
"OKX will be rolling out more pairs and exploring high-demand products for retail and institutional traders as it builds out its fully featured, regulated European derivatives platform," the company said in an announcement shared with Cointelegraph.
A structurally different product designed for Europe
The introduction of X-Perps by OKX arrives at a time when the exchange has established itself as a dominant force in the derivatives trading sector.
Data from CoinGlass indicates that OKX secured the position of second-largest crypto derivatives exchange during the first quarter of 2026, trailing only Binance, recording a total quarterly trading volume of $2.19 trillion, compared to Binance's $4.9 trillion.
An OKX spokesperson informed Cointelegraph that X-Perps has been deliberately structured to align with MiFID regulatory requirements and represents a distinct offering compared to products available under alternative regulatory jurisdictions.
Erald Ghoos, who serves as OKX Europe CEO, emphasized that derivatives products represent the foundation of cryptocurrency markets, maintaining their dominance in overall trading volume, accounting for $18.6 trillion relative to $1.9 trillion in spot market trading during the most recent quarter.
With X-Perps, we're extending our proven, high-performance derivatives offering into a regulated European framework, giving both institutions and retail traders access at scale
Erald Ghoos, OKX Europe CEO