OKX lands in Germany and Poland following MiCA clearance

OKX lands in Germany and Poland
image credit: Bangla press / Shutterstock.com

OKX has begun its expansion into Europe by launching its crypto exchange in Germany and Poland off the back of securing a regulatory license earlier this year. 

Announced on June 16, the crypto exchange has access to more than 270 cryptocurrencies, including over 60 Euro-backed digital currencies, for German and Polish investors to buy, share and sell on the OKX app and website. 

The exchange also supports Euro deposits and withdrawals, as well as localised website, app and customer support tailored for Germans and Polish people. 

OKX hosted exclusive official launch events in Berlin and Warsaw which included the premiere of a short film titled ‘Mild Mild West’. The film title is a play on words on the crypto sector’s often labelled ‘wild wild west’ moniker which criticises the industry’s regulatory landscape. 

After securing a Markets in Crypto Assets (MiCA) license in January from the Malta Financial Services Authority, OKX is able to operate across the European Economic Area (EEA) and the European Union’s 27 states, attempting to shed the ‘wild wild west’ tagline. 

“Launching fully regulated platforms in Germany and Poland represents a major advancement in OKX’s European expansion strategy,” said Erald Ghoos, CEO of OKX Europe. 

“Germany and Poland are key growth markets in the EU, and our license allows us to tailor our products and services to meet the specific needs of users in each country, delivering greater value, enhanced security, and more efficient access to customers.”

New appointments

In a bid to support its European expansion, OKX appointed Moritz Putzhammer as General Manager for Central Europe and the Nordics, and Gabriel Manduca as General Manager for Eastern EU. 

OKX stated that “both leaders bring extensive experience in centralised and decentralised finance (CeFi and DeFi)”, who will be responsible for driving growth, local operations, and regulatory engagement in their respective regions.

“With experienced leaders like Moritz and Gabriel driving our regional operations, we’re well-positioned to accelerate adoption by providing advanced trading tools, deep liquidity, and a strong commitment to transparency and compliance,” added Ghoos. 

Putzhammer has more than seven years within the digital assets sector, working for the likes of Lead, Director Consumer Business, and Talentir. He also co-founded and was the CEO of Trality, a B2C crypto trading platform which automates portfolio management of digital assets. 

Manduca joins OKX from Blocktrade, where he served as Chief Operating Officer for more than a year. He also spent time at Bolt as the Global Head of Account Management for four months. 

Burgeoning crypto markets

With Germany and Poland being the first two countries OKX has launched off the back of its MiCA license clearance, the crypto exchange has placed trust in the adoption and appetite rate of crypto adoption in the region. 

A report from UPay in December 2024 revealed up to 20% of Polish people are involved in crypto, primarily driven by younger people. Adoption has seen increases within real estate, e-commerce and startups, in turn also helping to drive blockchain adoption. 

Despite crypto adoption in Poland on an upward trend, citizens cited three main deterrents for further adoption; security concerns, taxation policies and perhaps more importantly, regulatory clarity. 

While Poland has adopted MiCA, the Polish Financial Supervision Authority oversees its domestic crypto laws. The regulatory body updated AML laws in 2024 to ensure virtual currency service providers abide by rules such as employing AML compliance teams, deploying risk assessments and managing customer due diligence more stringently. 

Regulatory pressure is also stemming in Germany as a recent report from Ipsos and Deloitte revealed 31% believe their government is absent in the growth of its crypto sector. 

While MiCA has brought much needed regulatory clarity and oversight in Europe, the burden to provide transparent crypto and digital asset rules lays with countries like Germany and Poland in order to reap the full benefits of the sector.