Coinbase, Kraken, and OKX are fighting over Binance’s soon-to-be-homeless EU users
MiCA-compliant exchanges are dangling transfer bonuses, deposit matches, and million-euro prize draws to poach customers from platforms that didn't get licensed in time
Coinbase, OKX and Kraken are offering bonuses and prizes to attract European crypto users as the final deadline under the European Union’s MiCA framework forces unlicensed exchanges to pull back from the region.
The promotions target customers of platforms including Binance and Bybit Global, which are preparing to restrict services for users in the European Economic Area starting July 1.
OKX is offering eligible users an 8% bonus on crypto transfers and cash deposits, capped at €20,000. The rewards will be distributed over 52 weeks.
Coinbase is offering a 5% transfer bonus to eligible users who move funds onto its platform before July 13.
Kraken has launched a €1 million prize draw in which customers receive one entry for every euro deposited between June 22 and July 31.
Binance withdrew its MiCA license application in Greece last week and said it would restrict new registrations and certain services for European users. The exchange said customer assets would remain accessible.
Bybit Global said access for EEA users would be progressively limited from July 1.
Its European subsidiary remains authorized to operate under MiCA through its Austrian license. The distinction means users must confirm which Bybit legal entity holds their account.
MiCA requires crypto companies offering services across the European Union to obtain authorization as a Crypto Asset Service Provider from a regulator in one member state.
The license can then be used across the bloc through MiCA’s passporting system.
As of Monday, regulators had approved 244 licenses, with Germany accounting for 57, the highest number among individual member states. Greece, Hungary, Poland, Portugal and Romania had yet to issue any licenses.
The final transition deadline could reshape Europe’s crypto exchange market by concentrating customers on a smaller group of authorized platforms.
ESMA has warned users that MiCA protections apply only to the licensed European legal entity providing the service, not automatically to every company operating under the same brand.
Licensed exchanges are now turning that regulatory advantage into an aggressive customer acquisition campaign.