OKX Europe is now letting users in the European Economic Area swap their USDT holdings into MiCA-compliant stablecoins like USDC and USDG.
The move comes ahead of the July 1, 2026 deadline, when licensed platforms in the EU will no longer be permitted to offer non-compliant stablecoins to European users. Tether, the issuer behind USDT and its roughly $175 billion to $186 billion market cap, has not pursued MiCA authorization and has shown no signs of changing course.
What’s actually happening
OKX Europe, which secured its MiCA Crypto-Asset Services Provider license on January 27, 2025, now fully supports USDC (issued by Circle) and USDG (issued by Paxos) for deposits, trading, and related services including the OKX Card. The conversion feature gives European customers a voluntary path to move their USDT into these compliant alternatives.
Once July 1, 2026 arrives, any exchange operating under MiCA rules will be required to stop offering non-compliant tokens to EEA users entirely.
