In a significant move underscoring its commitment to regulatory compliance and European expansion, OKX, a leading global Web3 technology company and the world’s second-largest cryptocurrency exchange by trading volume, has officially submitted an application to register as a Provider of Digital Asset Services (PSAN) in France. This strategic step aligns with the stringent regulatory standards set by the French Financial Markets Authority (AMF) and the Prudential Supervision and Resolution Authority (ACPR).
The registration process follows the establishment of OKX France in April and marks a pivotal milestone in OKX’s broader vision to strengthen its presence across Europe. By securing PSAN status, OKX aims to offer a comprehensive suite of crypto products and services to French users—fully compliant with local laws and regulations—while contributing to the growth of a secure, transparent digital asset ecosystem.
Strengthening Europe’s Web3 Leadership
France has increasingly emerged as a preferred hub for blockchain innovation in Europe, combining a skilled workforce, strong government support, and a vibrant community of crypto enthusiasts and experienced traders. OKX sees these advantages as essential to scaling its operations and advancing Web3 adoption on the continent.
👉 Discover how OKX is shaping the future of digital finance in regulated markets.
Tim Byun, Head of International Government Relations at OKX, emphasized the importance of clear regulatory frameworks:
“The French PSAN status provides a robust and reliable regulatory environment for digital asset service providers. Alongside an expanding number of registered PSANs in France, OKX is eager to contribute to the development of a healthy and secure French Web3 ecosystem. This application reflects our deep commitment to fostering responsible innovation and preparing for the upcoming implementation of the EU-wide MiCA regulation in 2024.”
MiCA (Markets in Crypto-Assets), expected to take full effect across the European Union in 2024, represents a landmark regulatory framework designed to standardize crypto oversight, enhance consumer protection, and promote market integrity. OKX’s proactive engagement with national regulators like the AMF positions it as a forward-thinking player ready to operate within this new era of compliance.
Government Support Fuels Innovation
Jean-Noël Barrot, French Minister Delegate for Digital Transition and Telecommunications, welcomed OKX’s decision as validation of France’s pro-innovation policies:
“We are delighted that OKX has chosen France to expand its European operations. This decision confirms our ambition to become a key player in Web3 technologies—a vision championed by President Emmanuel Macron and Minister Bruno Le Maire since 2017. With their deep expertise in crypto-assets, French authorities provide OKX with a solid and consistent approach throughout the registration process and beyond. OKX’s choice reflects the success of France’s strategy to foster a resilient, innovative, and secure crypto sector. We are more convinced than ever that France has all it takes to become a global leader in Web3 innovation and the digital economy.”
This endorsement highlights France’s deliberate efforts to attract high-impact fintech and blockchain firms through balanced regulation, tax incentives, and institutional support—making it one of Europe’s most attractive jurisdictions for crypto businesses.
Compliance, Transparency, and Security at the Core
OKX has long prioritized regulatory compliance, transparency, and user security as foundational pillars of its operations. Over recent years, the company has taken concrete actions to reinforce trust:
- Expanded its international compliance team
- Actively combated fraud and ransomware-related activities
- Enhanced real-time, third-party-verifiable Proof of Reserves, Liabilities, and Solvency
These initiatives go beyond industry standards, aiming to deliver unprecedented levels of transparency in the crypto space. Monthly Proof of Reserves reports are publicly published, allowing users to verify that user funds are fully backed—an essential measure in building long-term confidence.
Global Regulatory Strategy Underway
France is just one piece of OKX’s broader global compliance strategy. In March, the company announced plans to apply for PSAN licenses in Hong Kong, further expanding its regulated footprint. It currently holds a license from the Bahamas Virtual Assets (Service Providers) Act (VASP) and a provisional license from Dubai’s Virtual Assets Regulatory Authority (VARA).
This multi-jurisdictional approach demonstrates OKX’s dedication to operating within legal frameworks worldwide while adapting to regional requirements—ensuring users receive safe, compliant access to digital asset services no matter where they are located.
👉 See how OKX is building trust through transparency and global compliance.
Empowering Users Through Self-Custody and Innovation
Beyond trading, OKX is driving innovation in self-custody solutions through products like the OKX Wallet—a leading Web3 wallet that empowers users to securely manage their digital assets. With seamless integration across decentralized exchanges (DEXs), NFT marketplaces, DeFi protocols, GameFi platforms, and thousands of dApps, the OKX Wallet puts control directly in users’ hands.
As part of its mission to advance Web3 adoption, OKX partners with globally recognized brands and athletes such as:
- Manchester City F.C.
- McLaren Formula 1 Team
- Tribeca Film Festival
- Golfer Ian Poulter
- Olympic snowboarder Scotty James
- F1 driver Daniel Ricciardo
These collaborations help bridge traditional industries with blockchain technology, increasing mainstream awareness and engagement.
Hong Fang, President of OKX, commented on the company’s European ambitions:
“Our commitment drives us to expand our operations and deepen engagement with European regulators. Our activities in France are critical to this goal. We look forward to continuing our collaboration with the AMF to broaden access to our product suite—enabling individuals and institutions alike to transfer value efficiently and securely. As a leader in Web3, we’re excited to showcase the groundbreaking projects we’re developing for French users.”
Frequently Asked Questions (FAQ)
Q: What does PSAN mean in France?
A: PSAN stands for Prestataire de Services sur Actifs Numériques (Provider of Digital Asset Services). It is a regulatory classification under French law that allows companies to legally offer crypto-related services such as custody, trading, and exchange operations under AMF supervision.
Q: Why is OKX applying for registration in France?
A: France offers a clear regulatory path, a skilled talent pool, and strong government support for blockchain innovation. By registering as a PSAN, OKX can serve French customers with compliant products while contributing to Europe’s growing Web3 ecosystem.
Q: Is OKX already regulated elsewhere?
A: Yes. OKX holds a VASP license in the Bahamas and a provisional license from Dubai’s VARA. It is also pursuing licensing in Hong Kong and other key jurisdictions as part of its global compliance strategy.
Q: What is MiCA and how does it affect OKX?
A: MiCA (Markets in Crypto-Assets) is the EU’s comprehensive regulatory framework for cryptocurrencies, set to be fully implemented in 2024. OKX’s early engagement with national regulators like the AMF ensures it will be well-positioned for MiCA compliance across Europe.
Q: How does OKX ensure user fund security?
A: OKX publishes monthly Proof of Reserves reports verified by independent auditors. These include real-time data on asset holdings, liabilities, and solvency—exceeding industry standards for transparency.
Q: Can French users currently access OKX services?
A: While the PSAN application is under review, OKX continues to operate in accordance with applicable regulations. Once approved, it will expand its service offerings tailored specifically for French clients.
OKX remains dedicated to advancing a transparent, secure, and inclusive digital economy—where innovation thrives within responsible regulatory boundaries. As it strengthens its foothold in France, the company reaffirms its role as a global leader shaping the future of finance through technology, trust, and collaboration.
👉 Learn more about OKX’s journey toward global compliance and innovation.