What Crypto Exchanges Are Watching In 2026, According To Okx’s Rafique

Crypto exchanges are preparing their 2026 playbooks around licenses, stablecoins and tokenized assets, and OKX’s Haider Rafique argues that a tamer, macro‑driven Bitcoin is the backbone of that shift.

The cryptocurrency industry is growing under tighter rules, as large exchanges shape their next cycle around licenses and products built to withstand regulatory scrutiny.

Instead of chasing explosive growth through speculative listings and high-leverage trading, the focus for 2026 is shifting toward sturdier foundations, such as tighter fiat ramps, compliant derivatives in more jurisdictions and building out stablecoin and tokenization rails.

Cointelegraph spoke with Haider Rafique, global managing partner at OKX, to unpack how major exchanges are preparing for the year ahead.

Rafique said that OKX has already done the hard part: obtaining the regulatory green light to operate in almost all the regions it cares about.

“We anticipate there's going to be continued regulatory clarity in 2026,” he said, “mainly in the US and hopefully in other parts of Europe.” That will enable OKX to bring more of its derivatives franchise “onshore.”

The exchange now runs licensed services across the European Union (EU) from a Malta hub under the Markets in Crypto Assets (MiCA) license. It also holds a license in Dubai, operates registered entities in Australia, a central bank‑approved payments business in Singapore and a US platform that is licensed as a money transmitter in most states.

Related: OKX reports trading increase after expansion into US, EU

It also maintains locally compliant operations in markets such as Brazil and Turkey, making it, in Rafique’s words, “probably the most licensed exchange in the world our size.”

That’s a bold claim as OKX is not the only exchange that has been on a licensing spree lately.

Source: CoinTelegraph