“Go Deep Before You Go Broad”: Erald Ghoos Explains OKX’s Market Priorities

On June 16, 2025, OKX hosted a landmark event in Warsaw, Poland, marking the official launch of its operations in the country. The gathering brought together crypto enthusiasts, financial professionals, and media representatives, underscoring OKX’s strategic commitment to expanding across the European Union under the newly implemented MiCA regulatory framework.

With Poland recognized as one of Europe’s fastest-growing crypto markets, the event served not only as a local launchpad but also as a broader declaration of intent: to become a leading force in shaping compliant, user-centric cryptocurrency ecosystems across Europe.

BeInCrypto sat down with Erald Ghoos, CEO of OKX Europe, to discuss the exchange’s strategic priorities, including its tailored approach to the Polish market, compliance commitments, and how local insights are fueling global ambitions. Ghoos shared exclusive updates on upcoming integrations with Polish digital ID providers and payment platforms like BLIK, offering a clear vision of how OKX is building sustainable growth in Europe.

First Impressions and the Pulse of Poland

Jakub Dziadkowiec (BeInCrypto): Great to meet you, Erald. Welcome to Poland. What’s your impression of the country so far?

Erald Ghoos (CEO, OKX Europe): Thank you, Jakub. It’s a pleasure to be here. I’ve always had a soft spot for Poland—I’ve visited many times, and each visit reminds me how dynamic and welcoming this country is. The people are fantastic—friendly, driven, and highly informed about global trends. There’s a real energy in the air.

Just days ago, flying in, I came across a striking economic insight: if you combine the economic output of several neighboring countries—excluding Germany—Poland still outpaces them. That speaks volumes. It positions Poland not just as a rising European economy but as a leader among former Eastern Bloc nations.

From OKX’s perspective, this momentum is exciting. It makes Poland a prime market for innovation, especially in fintech and crypto. Growth, public interest, and openness to new financial tools—all the ingredients are here.

👉 Discover how OKX is shaping the future of digital finance in Europe.

Strategic Priorities: Why Poland Is Among OKX’s Top 5 European Markets

Jakub: You mentioned during your presentation that Poland has become one of your top five markets in Europe. Can you elaborate? What drives this focus?

Erald Ghoos: Absolutely. When planning our European strategy, we had to be realistic—there are 30 countries in the European Economic Area. Launching everywhere at full scale simultaneously isn’t feasible. So we identified five key markets to start strong: Germany, France, Italy, Spain, and Poland.

Why Poland? First, it has a large and rapidly growing economy. Second, crypto adoption is impressive—around 11.7% of the population owns crypto assets, placing Poland among the top three in Europe alongside the Netherlands and Slovenia.

Even more telling: 95% of Poles have heard of cryptocurrencies. That’s one of the highest awareness rates in Europe. For us, this signals two things—crypto is already part of public discourse, and people here are financially curious and digitally savvy.

Combine that with government support for digital transformation, and Poland becomes a natural choice for investment.

MiCA and MiFID: The Regulatory Backbone of OKX’s Expansion

Jakub: You mentioned MiCA earlier. How does this regulation empower your operations in Poland and across Europe? And what advantage does it give you over competitors?

Erald Ghoos: Regulation is central to our strategy. We were among the first global exchanges to secure a MiCA license. Granted on January 27, it allowed us to operate across the EU shortly after.

With MiCA, we’re authorized to offer core services like spot trading—buying, selling, and holding cryptocurrencies—opening access to a wide range of financial products.

But we didn’t stop there. To serve advanced traders interested in leverage or futures, we also pursued a MiFID license (Markets in Financial Instruments Directive). This enables us to legally offer regulated derivatives—a space often murky in crypto.

We obtained MiFID authorization in Malta and are finalizing operational approvals. Once complete, OKX will be among the few exchanges offering fully regulated derivative trading across Europe.

This dual-licensing model sets us apart. Many competitors are still navigating regulatory uncertainty. As MiCA enforcement tightens, some may not qualify to operate in markets like Poland. This gives us a clear first-mover advantage.

Transparency, Security, and the Importance of Proof-of-Reserves

Jakub: That’s a strong regulatory foundation. But what else makes OKX different? What do users gain here they might not elsewhere?

Erald Ghoos: Transparency and security are at our core. Our first differentiator is compliance—we follow rules rigorously. For example, we were the first global exchange in Europe to fully comply with the FATF Travel Rule.

For those unfamiliar, the Travel Rule requires exchanges to share sender and recipient information during crypto transactions—ending anonymous transfers between licensed platforms. We implemented it early, showing our proactive stance on global compliance.

Our second pillar is Proof-of-Reserves. Every month, we publish cryptographically verifiable data proving that user assets are fully backed—1:1. No fractional reserves. No hidden risks.

Compare that to traditional banks, where fractional reserve lending is standard. Your deposits are lent out or invested. In crypto, we saw what happened with FTX—customer funds misused for internal investments, leading to collapse.

That’s why our monthly Proof-of-Reserves isn’t just a feature—it’s essential for rebuilding trust.

👉 See how OKX ensures full asset transparency for every user.

Building Local Teams with Global Reach

Jakub: You mentioned your “global but local” strategy. Why is this approach so important?

Erald Ghoos: Because every market is unique. Financial needs vary widely—from country to country, even city to city.

That’s why we invest in local teams who deeply understand their markets. They engage with communities, attend events, and listen to user feedback.

In Poland, for example, our team taught me that payment methods like BLIK and Zen are essential. In Malta, I’d never heard of BLIK before my Polish colleagues explained it. That’s the value of local insight.

We aim to replicate this model everywhere we operate—adapting not just our products but also communication styles, customer support, and compliance workflows.

Digital Identity, e-Government, and Lowering Entry Barriers

Jakub: That’s forward-thinking. Given Poland’s leadership in digital identity and e-government, are you planning to integrate with local e-ID systems?

Erald Ghoos: Yes—we’re already in advanced talks with two Polish providers: EID Creative and another local solution. We’re integrating these digital ID systems into our onboarding process.

This is a win-win: it reduces friction for users and streamlines compliance. Instead of uploading documents and waiting days for approval, users can verify identity in seconds using trusted national systems.

This is especially appealing to younger, tech-savvy users. Over 10 million Poles already use e-ID platforms—a large demographic that aligns perfectly with our target audience.

The Future of Payments: BLIK, Stablecoins, and OKX Pay

Jakub: A final local insight: BLIK is huge here. If users could buy crypto directly via BLIK, I believe you’d win many hearts.

Erald Ghoos: I completely agree—and we’re already working on it. I can confirm an announcement is coming within weeks. BLIK is trusted across Poland—used for e-commerce, banking, and peer-to-peer payments.

It’s the same dynamic we see elsewhere: iDEAL in the Netherlands, Bancontact in Belgium. Without supporting these local methods, platforms simply won’t gain trust.

That’s why we’re prioritizing integration. Soon, buying crypto in Poland will be as easy as ordering coffee.

European Unity Through MiCA

Jakub: More broadly, do you think MiCA is making a real difference across the EU?

Erald Ghoos: It already has. Before MiCA, Europe’s crypto landscape was fragmented—some countries friendly, others hostile. We faced overlapping requirements: different disclaimers, local data officers, separate licenses—all creating a bureaucratic maze.

MiCA changes that. It creates a harmonized framework across the EU—reducing red tape, lowering costs, and giving companies like ours confidence to scale.

Even traditional banks are responding positively. They now know exactly what’s allowed. That clarity is what institutional players have been waiting for.

It also helps with fiat partners. Previously, banks saw crypto firms as high-risk—charging extra fees or denying service. Now, with a MiCA license, we’re treated like EMIs or payment institutions—no longer seen as risky. We get better pricing, support, and infrastructure.

Expanding Horizons: Future Plans and DeFi Vision

Jakub: What’s next for OKX in Europe? Any plans for new markets in the next 6–12 months?

Erald Ghoos: Our focus now is making our five key markets successful. As our president Hong Fang says: “Go deep before you go broad.” We want to refine our approach, test what works, then replicate success elsewhere.

That said, we’re preparing to relaunch our Web3 and DeFi products. OKX DeFi was already one of the strongest platforms—we’re building on that momentum.

We’re also launching OKX Pay, a peer-to-peer payment system built on stablecoins. With Tether no longer compliant under MiCA in Europe, there’s an opportunity for a regulated euro-pegged alternative.

OKX Pay draws from Satoshi Nakamoto’s original vision—a direct peer-to-peer financial system. It will let users send stablecoin payments instantly with minimal fees. We see this as a major leap forward in crypto utility.

👉 Explore how OKX Pay is redefining digital payments across Europe.

IPO: A Thought, Not Yet a Plan

Jakub: Final question—do you ever consider going public like Coinbase or Circle?

Erald Ghoos: Of course—we think about it from time to time. We have scale. We have regulatory structure. We’re financially stable. But right now, there are no concrete plans. It remains a background idea—one we’ll reassess when the timing feels right.

Frequently Asked Questions (FAQ)

Q: What is MiCA and why does it matter for crypto users in Europe?
A: MiCA (Markets in Crypto-Assets Regulation) is the EU’s comprehensive regulatory framework for cryptocurrencies. It ensures consumer protection, market integrity, and transparency across all member states—making crypto services safer and more consistent for users.

Q: How does OKX ensure user funds are safe?
A: OKX conducts monthly Proof-of-Reserves audits using cryptographic verification to prove all user assets are fully backed 1:1. This prevents fractional reserve practices and builds long-term trust.

Q: Will Polish users be able to buy crypto with BLIK?
A: Yes—OKX is finalizing integration with BLIK and plans to announce full support soon. This will make purchasing crypto as seamless as everyday digital payments in Poland.

Q: What is OKX Pay and how does it work?
A: OKX Pay is a peer-to-peer payment system using euro-pegged stablecoins. It allows instant transfers with low fees—offering a compliant alternative under MiCA regulations.

Q: Is OKX available across all EU countries?
A: Currently focused on five key markets—Germany, France, Italy, Spain, and Poland—OKX uses a “go deep before broad” strategy to ensure quality before expanding further.

Q: Does OKX have plans for an IPO?
A: While discussed internally due to strong scale and stability, there are no current plans for an IPO. The idea remains under consideration for future evaluation.