OKX launches flexible USDC loans for European users

OKX Europe has launched a flexible USDC loan service for eligible users within the European Economic Area (EEA). The product allows customers to borrow USD Coin (USDC) by using various cryptocurrencies, such as Bitcoin, Ether, and Solana, as collateral without needing to sell their holdings.

Under the new terms, borrowers can access up to 80% of their pledged assets' value. Regular customers can borrow up to 250,000 USDC, while VIP clients may access up to 3.25 million USDC. The loans feature variable hourly interest rates—initially cited at approximately 2% annually—and do not require a fixed repayment term, allowing for partial or full repayments at any time.

The service is operated by OKX Europe Limited. Notably, the company stated that the Markets in Crypto-Assets (MiCA) client asset protection regulations do not apply to assets held within or connected to this specific loan service. Access was initially rolled out to users with derivatives accounts, with spot-only account access scheduled to follow.