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Okex

“Can a crypto exchange evolve into the financial operating system for the Web3 era — combining trading, self-custody wallets, crypto-backed lending, and stablecoin-powered everyday payments under one compliant global platform?”

Founded2017
HQSeychelles (registered); Malta (EEA entity: OKX Europe Markets Limited)
FoundersStar Xu
IndustryFintech / Crypto
The story

OKX began as OKEx, a crypto derivatives and spot exchange, and has progressively expanded into a full Web3 ecosystem. After rebranding in 2021, it launched a self-custody wallet, DEX, and NFT marketplace, positioning itself as infrastructure for crypto-native users rather than just a trading venue. The 2025 launch of OKX Pay and OKX Card in the EEA marks its entry into everyday payments — converting stablecoins to fiat via Mastercard — representing its most significant push into embedded finance and utility-layer crypto spending.

Last 12 months
2025-12
2025-08
2026-05
Product timeline
2017
OKEx launched as a cryptocurrency derivatives and spot exchange by OK Group (founded by Star Xu).· pivot
2021
Rebranded from OKEx to OKX, signaling expansion beyond exchange into a broader Web3 ecosystem.· pivot
2022
Launched OKX Wallet and Web3 product suite, including DEX aggregator and NFT marketplace.· banking
2023
Introduced OKX Flexible Loan (crypto-collateralized lending) and expanded VIP Loan / Credit Line products.· lending
2024
Integrated fiat gateway BitBNS for India-based traders, expanding fiat on-ramp access.· banking
2025
Launched OKX Pay and OKX Card in Europe (EEA), described as the world's first compliant DeFi Pay & Card solution in the EU, using Mastercard network with stablecoin (USDC, USDG) settlement.· card
2026
Updated VIP Loan and Credit Line liquidation methodology with staged approach for risk management.· lending
Regulated entities
Virtual Asset Service Provider / Crypto Exchange License
Malta (MGA)
OKX Europe Markets Limited (C88193)
The stack
Payments / PSP
Mastercard (card network for OKX Card, self-operated via stablecoin conversion)
Card issuing
Mastercard
Lending
OKX Flexible Loan (crypto-collateralized, variable rate)VIP Loan (fixed-rate, 90-day term, peer-to-peer matched)Credit Line (for VIP users, with risk unit management)
Accounting gap: minor