OKX drops X-Perps across all 30 EEA countries — MiFID II-regulated crypto derivatives with up to 10x leverage, multi-asset collateral (EUR, USD, crypto), and launch pairs on BTC, ETH, XRP, DOGE, and PEPE. Structurally these are five-year expiry contracts with perp-style funding rates, a clever workaround that avoids CFD classification under European regs while giving traders functionally perpetual exposure. OKX pulled $2.19T in derivatives volume in Q1 2026 (second only to Binance at $4.9T), and this is them planting a flag in Europe's regulated derivatives market after securing their MiFID II license via a Malta entity acquisition last year. Both retail and institutional can trade — notable given how restrictive European leverage rules have been.

TLDR by @Benthic