OKX Europe said on September 7 that it will offer eligible European customers an 8% bonus for transferring USDT from external exchanges or wallets and converting it into USDC. The promotion runs until October 8 and offers a maximum bonus of 4,000 USDC per customer.
Customers must deposit USDT from an external platform or wallet and convert it into USDC at a 1:1 rate through OKX. Up to 50,000 USDT per customer qualifies for the promotion, and OKX said no conversion fee will be charged.
The bonus will not be paid immediately in full. According to the company, payments will be distributed every 14 days over 12 months after the promotional period closes, subject to the campaign’s terms and conditions.
MiCA reshapes Europe’s stablecoin market
The campaign comes as the European Union’s Markets in Crypto-Assets Regulation, known as MiCA, changes how exchanges offer stablecoins across the European Economic Area. OKX said the promotion is intended to give European USDT holders an incentive to move into USDC, which is available through a MiCA-regulated framework.
USDT remains one of the world’s most widely used stablecoins, but its issuer has not obtained authorization under MiCA’s stablecoin regime. European trading platforms have consequently restricted or delisted certain USDT services as they adjust their offerings to EU regulatory requirements.
“A lot of people in Europe are holding USDT on a platform that’s pulling out of Europe,” said Erald Ghoos, CEO of OKX Europe. “They need somewhere to move it, and we want that move to be worth making.”
Ghoos said obtaining a European license requires significant time, investment and regulatory expertise. “Doing it right is a lengthy and expensive process that not every platform is able to commit to,” he added.
Stablecoin conversion becomes a customer acquisition strategy
The offer shows how MiCA is reshaping competition among cryptocurrency platforms. Compliance is increasingly becoming part of customer acquisition as licensed operators seek to attract balances from platforms reducing services or withdrawing from European markets.
The 8% headline bonus is substantial, but the 12-month distribution schedule means customers must consider the full campaign terms, including eligibility and any conditions attached to continued payments. The promotion is available only to qualifying customers and may be subject to jurisdictional restrictions.
OKX operates in Europe through Malta-registered OKX Europe Ltd, which is licensed by the Malta Financial Services Authority as a crypto-asset service provider. The company said it serves more than 120 million users globally and publishes monthly proof-of-reserves reports.
This promotion is a marketing offer and does not constitute investment advice. Crypto assets are volatile and involve risk. Terms and conditions apply.
