Crypto exchange OKX said Wednesday it is launching a Europe-specific cryptocurrency derivatives platform called X-Perps.
The company said the new derivatives product is available to retail and institutional traders across the European Economic Area (EEA).
OKX said the platform is purpose-built in compliance with the Markets in Financial Instruments Directive (MiFID), a European Union regulatory framework governing financial instruments such as securities and derivatives.
The launch comes just over a year after OKX secured a MiFID II license in March 2025, which allowed the exchange to expand its derivatives trading across the EU.
Platform features multi-asset collateral and up to 10x leverage
OKX said X-Perps offers five-year expiry crypto derivatives with up to 10x leverage and supports multi-asset collateral, including euros, US dollars and crypto assets.
At launch, the platform offers pairs for numerous crypto assets, including major coins such as Bitcoin (BTC), Ether (ETH) and $XRP ($XRP), as well as memecoins such as Dogecoin (DOGE) and Pepe (PEPE).
“OKX will be rolling out more pairs and exploring high-demand products for retail and institutional traders as it builds out its fully featured, regulated European derivatives platform,” the company said in an announcement shared with Cointelegraph.
A structurally different product designed for Europe
OKX’s launch of X-Perps comes as the exchange has emerged as a major player in derivatives trading.
According to CoinGlass, OKX ranked as the second-largest exchange in crypto derivatives in the first quarter of 2026, after Binance, with a cumulative quarterly trading volume of $2.19 trillion, versus Binance’s $4.9 trillion.
A spokesperson for OKX told Cointelegraph that X-Perps is specifically structured to comply with MiFID requirements and will differ from products offered under other regulatory frameworks.
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OKX Europe CEO Erald Ghoos said derivatives sit at the core of crypto markets, which continue to dominate overall trading activity, totaling $18.6 trillion compared with $1.9 trillion in spot trading in the past quarter.
“With X-Perps, we’re extending our proven, high-performance derivatives offering into a regulated European framework, giving both institutions and retail traders access at scale,” Ghoos noted.
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