Global fintech firm OKX has launched X-Perps, a regulated crypto derivatives product for retail and institutional traders across the European Economic Area (EEA).
X-Perps operates under the EU’s MiFID II framework, offers up to 10x leverage, and launches with ten trading pairs covering Bitcoin, Ethereum, Solana, and several others, including Dogecoin and Pepe.
According to OKX, the product allows capital-efficient trading of crypto markets by combining leveraged exposure with a funding rate mechanism that anchors pricing to underlying spot markets. This structure enables arbitrage opportunities while maintaining a regulated framework with institutional-grade risk management.
X-Perps leverages OKX’s established derivatives infrastructure, offering deep liquidity, rapid order execution and high throughput to support stable performance across varying market conditions.
OKX’s EU licensing path
OKX acquired a MiFID II license through a Malta-based entity in March 2025, then picked up a Payments Institution license in February 2026, enabling stablecoin transactions and card services across the bloc.
According to OKX Europe CEO Erald Ghoos, Europe is one of the most important regions for regulated digital asset markets and remains a core focus for the company.
“Derivatives sit at the core of crypto markets today. 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,” Ghoos said.
Perpetual futures, the instrument X-Perps is modeled on, generated $92.9 trillion in trading volume globally in 2025, per CoinGecko. Perpetual contracts are the dominant instrument in crypto trading, and until now, European access to these products through regulated channels has been thin.
“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,” Ghoos added.
