The integration lets OKX users make crypto purchases and deposits across the European Economic Area (EEA) using PayPal, according to a Monday (July 14) press release. It will help OKX deliver secure, localized and user-friendly payment solutions to its European user base.
“Integrating with PayPal is a major step in our mission to make crypto more accessible to everyone,” OKX Europe CEO Erald Ghoos said in the release. “PayPal is a household name in Europe and beyond, and integrating their trusted payment solutions helps us deliver a seamless experience that meets the evolving needs of our users.”
OKX users can fund their accounts through various funding sources made available by PayPal, such as their PayPal balances, linked bank accounts, debit cards and credit cards, per the release.
“The integration streamlines access to digital assets with no additional setup required after linking their OKX and PayPal accounts,” the release said.
The integration follows OKX’s MiCA registration in Europe, “a key regulatory milestone that strengthens its position in the region and supports its long-term strategy to offer regulated, localized digital asset services in key European markets,” according to the release.
It also comes on the heels of last week’s announcement that OKX teamed with Circle, a partnership that lets the 60 million global users of OKX’s crypto app more easily convert between U.S. dollars and Circle’s USDC stablecoins on a one-to-one basis.
In other crypto news, PYMNTS wrote last week about the history of scams in the digital asset space and what the larger financial world can learn from them. The PYMNTS Intelligence report “The State of Fraud and Financial Crime in the US 2024: What FIs Need to Know,” found that social engineering fraud rose by 56% in the past year.
“The scams that rocked crypto didn’t emerge from nowhere,” the report said. “They followed a pattern — innovation outpacing oversight, hype overwhelming caution, centralization masquerading as decentralization.”
For enterprises, regulators and financial institutions that are weaving digital assets into their operations, the history and evolution of crypto scams can provide insight into the systemic risks that lie beneath crypto’s promise of financial services innovation.
“Employee training on wallet hygiene, phishing and impersonation is as vital as any firewall,” the report said.
