OKX Europe CEO Erald Ghoos introduced X-Perps, a regulated perpetual-style crypto derivatives product for Europe. For regular crypto users, the simple point is that OKX is trying to bring leveraged trading into a framework built for the European market instead of the offshore model many traders already know.

OKX Europe Introduces X-Perps for Regulated Crypto Derivatives Access

What OKX Europe Announced With X-Perps

In its April 15, 2026 launch post, OKX described X-Perps as MiFID-regulated crypto derivatives for Europe with up to 10x leverage for retail and institutional traders. MiFID is the European rulebook used for investment services, so the launch matters beyond exchange branding.

OKX said X-Perps are built as five-year expiry crypto futures that use a funding-rate mechanism, multicurrency mode in a unified account, real-time continuous margining, and multi-asset collateral. That is why the company calls the product perpetual-style rather than a plain perpetual contract.

Cointelegraph reported the rollout is live for traders across all 30 countries in the European Economic Area through OKX’s Malta-based MiFID business. For European users, that makes the story less about a single trading feature and more about whether leverage can be offered in a format that fits local rules.

“With X-Perps, we’re extending our proven, high-performance derivatives offering into a regulated European framework.”

Erald Ghoos, OKX Europe CEO, via Cointelegraph

Why the Regulated Structure Matters in Europe

OKX said X-Perps is offered through OKX Europe Markets Ltd, which is regulated by the Malta Financial Services Authority under Investment Services Licence No. OEML-15905. That named entity matters because it gives readers a clearer answer to the basic trust question: who is offering the product and under what supervision.

In its January 23, 2025 MiCA pre-authorization announcement, OKX said it planned to passport regulated services from Malta across all 30 EEA states. MiCA is the EU framework for crypto-asset services, and X-Perps suggests OKX now wants one regulatory track for crypto services and another for derivatives.

That compliance-first framing, backed by the January 23, 2025 Malta passporting plan and the OEML-15905 licence named in the launch post, also fits the broader European conversation around market structure and trust, including Coinlineup’s coverage of Paris Blockchain Week 2026 Live: Cointelegraph on Ground. For newcomers, the practical takeaway is simple: regulated access is becoming part of the product pitch, not just the legal fine print.

What X-Perps Could Mean for OKX and European Crypto Traders

CoinGlass said OKX handled about $2.19 trillion in Q1 2026 derivatives volume, second only to Binance at about $4.90 trillion. That data matters because it shows X-Perps is being launched by an exchange that already has scale in derivatives, not by a player trying to enter the segment from scratch.

The same CoinGlass report said total crypto trading volume reached about $20.57 trillion in Q1 2026, including about $18.63 trillion in derivatives volume and about $1.94 trillion in spot volume. For regular users, those figures explain why exchanges keep investing in leveraged products: most crypto trading activity is happening in derivatives, not in simple spot buys.

That creates a realistic opening for OKX in Europe. If traders want leverage but also care more about platform trust after stories like Apple Removes Fake Ledger Live App After $9.5M Crypto Theft and infrastructure pushes like Ethereum Foundation Launches $1M Security Subsidy Program, a regulated venue has a clearer pitch than an offshore one.

The next test is adoption, not launch-day messaging. Because OKX is offering up to 10x leverage inside a market where derivatives represented about $18.63 trillion of the $20.57 trillion traded in Q1 2026, the real question is whether European users choose regulated access over offshore depth once trading volumes build.

Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Crypto markets remain volatile, and leveraged products carry additional risk.