OKX expands X-Perps in Europe with Magnificent 7, gold and oil futures

OKX has expanded its European retail offerings by launching expiry futures linked to Magnificent 7 stocks, SPY, QQQ, and major commodities like gold, silver, and oil. These X-Perps products allow users to trade traditional financial assets using the same margin pool as their crypto holdings with up to 10x leverage. This move intensifies competition among major exchanges like Coinbase, Kraken, and Binance, all of which are increasingly integrating equity derivatives into crypto-native platforms. By offering these instruments, OKX aims to capture market share from offshore platforms, reporting a 447% increase in European X-Perps volumes since May 1. The expansion occurs as European regulators, including ESMA, scrutinize how MiFID II and the upcoming MiCA framework apply to leveraged crypto-linked derivatives. This trend reflects a broader industry shift toward packaging traditional assets into single, regulated retail accounts to streamline investor access. Ultimately, the convergence of equities and crypto trading highlights the evolving regulatory landscape for digital asset service providers operating within the European Union.