A post by @okx on X.

OKX launched a promotional campaign urging European users to convert their USDT holdings to USDC at a 1:1 rate, offering an 8% bonus capped at €3,500 per user. The exchange framed the move as a response to Europe's shifting stablecoin landscape, widely understood as a reference to the EU's MiCA regulation, which imposes compliance requirements that have led several platforms to restrict or delist non-compliant stablecoins like Tether's USDT in the European Economic Area. The campaign signals OKX's positioning of USDC, issued by Circle, as its preferred compliant stablecoin for European customers, aligning with similar moves by other major exchanges such as Binance and Crypto.com ahead of MiCA's stablecoin provisions taking full effect. The promotion could drive meaningful USDT outflows from European users and shift stablecoin liquidity toward USDC across OKX's order books and trading pairs. Traders should watch for further exchange announcements on USDT delistings or conversion deadlines in the EEA, as well as any response from Tether regarding its MiCA compliance strategy.