X-Perps: Our Regulated Crypto Derivatives are Live in Europe

Today, OKX is launching X-Perps in Europe, MiFID-regulated crypto derivatives with up to 10x leverage, available to retail and institutional traders across the European Economic Area. X-Perps are five-year expiry crypto futures that use a funding rate mechanism to keep pricing anchored to the underlying spot market, with up to 10x leverage, multicurrency mode in a unified account, real-time continuous margining, and multi-asset collateral without settlement delays.

We've been building derivatives infrastructure for over a decade, and the matching engine, liquidity, and risk systems behind X-Perps are the same ones trusted by millions of traders globally. What's new is that we're bringing all of it into a regulated European framework for the first time, launching with BTC, ETH, SOL, XRP, and other major tokens, with more pairs and products to follow. This depth of derivatives expertise in a fully regulated European environment is something very few platforms are positioned to do, and it sits at the heart of our mission to make crypto accessible to everyone.

In 2025, the market hit nearly $86 trillion in total volume, averaging $265 billion a day, with derivatives accounting for roughly 79% of all crypto trading globally. Most of the volume, price discovery, and sophisticated risk management in this industry runs through derivatives markets. Yet for many years, European traders had two options: use an unregulated offshore platform, or go without. Neither is acceptable, and that's exactly the gap X-Perps was built to close.

Europe has delivered comprehensive regulation with MiCA, MiFID, and investor protections. But frameworks only matter if there are high-quality products built inside them. X-Perps was built for the European markets, with appropriateness assessments, educational resources, and negative balance protection from day one. We already give traders access to the same tools and liquidity used by the most sophisticated market participants in the world. Now we're doing it inside a regulated European framework.

X-Perps is live now for eligible European customers.

Trading in financial instruments involves a significant risk of loss and may not be suitable for all investors. If you invest in X-Perps or other derivatives you may lose some or all of the money you invest. X-Perps are leveraged instruments; leverage can amplify both gains and losses. The value of investments and any income derived from them can go down as well as up, and you may not recover the amount originally invested. Past performance is not a reliable indicator of future results. You should carefully consider your investment objectives, level of experience, and risk appetite before engaging in any trading activity.

OKX Europe Markets Ltd ("OEM"), which is authorised and regulated by the Malta Financial Services Authority (MFSA) under the Investment Services Act (Chapter 370 of the Laws of Malta) as a Investment Services Licence Holder (Licence No. OEML-15905).

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