OKX Europe lets users convert USDT to MiCA-compliant USDC

The feature offers European customers a voluntary path away from Tether’s USDT as MiCA rules reshape the region’s stablecoin market.

OKX Europe has launched a one-way conversion feature allowing customers to deposit USDT and convert it into USDC, offering a regulated migration path as the European Union’s Markets in Crypto-Assets (MiCA) rules limit support for the world’s largest stablecoin.

According to a company announcement shared with Cointelegraph, the feature lets customers deposit Tether’s USDt (USDT) into their OKX Europe account and convert the tokens into USDC (USDC), one of the largest stablecoins available under the European Union’s MiCA framework.

Tether has not obtained authorization to issue USDT under MiCA, prompting many European platforms to restrict deposits, delist trading pairs or convert customer balances into compliant alternatives as the European Union completed the framework’s rollout on July 1.

Read more