Global fintech firm OKX has introduced X-Perps, a regulated crypto derivatives product designed for both retail and institutional traders within the European Economic Area (EEA). This new offering operates under the EU’s MiFID II framework, allowing traders to leverage their positions by up to 10 times. Upon launch, X-Perps features ten trading pairs, covering popular cryptocurrencies including Bitcoin, Ethereum, Solana, Dogecoin, and Pepe.
OKX emphasizes that X-Perps facilitates capital-efficient trading in crypto markets. It achieves this by integrating a funding rate mechanism that aligns pricing with underlying spot markets, thereby creating opportunities for arbitrage. Additionally, this structure is accompanied by institutional-grade risk management, adhering to a regulated framework.
The launch of X-Perps also showcases OKX’s established derivatives infrastructure, which is characterized by substantial liquidity, quick order execution, and high throughput. These features are intended to ensure stable performance, even in varying market conditions.
On the regulatory front, OKX secured a MiFID II license through a Malta-based entity in March 2025 and acquired a Payments Institution license in February 2026. This regulatory approval enables the firm to facilitate stablecoin transactions as well as card services throughout the European bloc.
Erald Ghoos, CEO of OKX Europe, underlined the importance of the European market for regulated digital asset trading, stating, “Europe is one of the most important regions for regulated digital asset markets and remains a core focus for the company.” He highlighted that derivatives are central to contemporary crypto markets. Ghoos added, “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.”
Data from CoinGecko indicates that perpetual futures—a category upon which X-Perps is based—generated a staggering $92.9 trillion in trading volume globally in 2025. As perpetual contracts dominate crypto trading, the availability of regulated access to these instruments has been limited in Europe up until now.
In conclusion, Ghoos expressed confidence in OKX’s ability to meet the demands of European traders, stating, “Combined with deep liquidity, OKX delivers a level of depth, performance and risk management that few platforms can match. Our goal is simple: to provide Europe’s traders with the most complete and trusted derivatives trading environment in the market.”
