OKX Europe Offers 8% Bonus for USDT-to-USDC Conversions
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
On September 7, OKX Europe announced an 8% bonus for European customers converting USDT to USDC. The promotion is valid until October 8 and allows for a maximum bonus of 4,000 USDC per customer. The conversion takes place at a 1:1 rate, with a limit of 50,000 USDT per customer. No conversion fees apply. Payments will be distributed every 14 days over a period of 12 months after the campaign ends, contingent upon the campaign's terms and conditions.
This initiative aligns with the European Union's Markets in Crypto-Assets Regulation (MiCA) that is influencing how crypto exchanges handle stablecoins in the European Economic Area. MiCA aims to provide a regulated framework for USDC, a stablecoin that has not received authorization under the regime. As European-based crypto platforms adjust to comply with MiCA requirements, they are offering incentives to encourage users to move their assets to MiCA-compliant stablecoins.
Erald Ghoos, CEO of OKX Europe, explained that many European users are holding USDT on non-compliant platforms and need a regulated environment to move their assets. Ghoos highlighted the lengthy and costly process of obtaining a European license, which not all platforms can afford. The promotion serves as a strategy to attract customers from platforms reducing services or pulling out of Europe, showcasing how MiCA compliance influences customer acquisition in the crypto market.
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