OKX Europe Markets Limited, regulated by the Malta Financial Services Authority, launched Pre-IPO X-Perps for OpenAI and Anthropic on September 10. These perpetual futures allow traders to speculate on the implied valuations of private companies, specifically citing OpenAI's valuation of $852 billion and Anthropic's valuation of $965 billion.
The platform now offers up to 10x leverage on these contracts, an increase from the 0.01-5x range available during the initial launch in May 2026. Additionally, the exchange introduced 100 tokenized stocks, including assets like SpaceX, Google, NVIDIA, Palantir, SPY, and QQQ, which trade 24/7.
These tokenized instruments are synthetic and do not grant ownership or voting rights to users. The underlying technology, xStocks, integrates crypto trading with synthetic equity exposure, allowing users to manage positions within a single account without moving funds between platforms.
The expansion follows a fourfold increase in X-Perps trading volume in Europe since the conclusion of the MiCA transition period in early July 2026. This move provides retail participants access to pre-IPO valuations previously restricted to venture capital firms and sovereign wealth funds.
