Key TakeawaysEuropean traders on OKX can now access pre-IPO perpetual futures for OpenAI and AnthropicThe platform offers up to 10x leverage on long and short positions without requiring share ownershipA collection of 100 tokenized equities and ETFs, including Nvidia (NVDA), Google, and Palantir (PLTR), has been introducedThese tokenized instruments provide 24/7 trading but exclude ownership privileges and voting rightsSince MiCA’s transition phase concluded in July, X-Perps trading volume in Europe has quadrupledCryptocurrency platform OKX has introduced pre-IPO perpetual futures contracts linked to OpenAI and Anthropic, specifically targeting qualified European market participants. These financial instruments enable speculation on the private market valuations of the two artificial intelligence firms without requiring actual equity ownership.Real-world markets just went live in Europe.We’re launching pre-IPO access to companies like OpenAI and Anthropic, alongside tokenized stocks available 24/7 from one account.Trade it all on the New Money App.— OKX (@okx) September 10, 2026Market participants can establish long or short positions utilizing leverage of up to 10 times their initial capital. These derivatives do not constitute actual shares in the referenced companies and provide no financial claims or entitlements against the underlying businesses.Understanding the X-Perps Product StructureThe exchange has branded these instruments as X-Perps. They follow the estimated valuations of OpenAI and Anthropic instead of tracking any exchange-listed securities.Contract prices may diverge from the valuations established during private investment rounds. The platform has cautioned that public offerings for these companies might face postponement, cancellation, or may not materialize at all.According to Erald Ghoos, CEO of OKX Europe, such investment opportunities have historically been inaccessible to European retail investors using conventional brokerage channels. He attributed the product introduction to increased appetite for the platform’s derivative offerings.“Since the conclusion of MiCA’s transition period in July, X-Perps volume in Europe has expanded fourfold, and these new markets cater to that growing trader base,” Ghoos explained.The exchange isn’t breaking new ground with this offering. Competitors including Hyperliquid and Binance have previously established pre-IPO perpetual trading markets for both OpenAI and Anthropic.The platform emphasized that leverage amplifies both potential gains and losses. Traders face the risk of partial or total capital loss when leveraged positions move unfavorably.24/7 Access to 100 Tokenized Equity MarketsComplementing the pre-IPO offerings, OKX has activated trading for 100 tokenized stock and ETF products. The portfolio encompasses major names like Google, Nvidia (NVDA), Palantir (PLTR), SpaceX, along with the SPY and QQQ exchange-traded funds.Trading of these digital representations operates continuously, including periods when conventional equity markets remain closed. The platform supports various order execution methods such as limit, market, stop-loss, time-weighted average price, and Iceberg orders.Tokenized equities can serve as margin collateral for X-Perps trading within a single account. Additionally, users can transfer these assets to personal custody wallets—a capability unavailable through traditional brokerage services.Nevertheless, possession of these tokens does not equate to owning the actual securities. Market participants gain only price movement exposure, without acquiring voting privileges or legal shareholder standing.This fundamental difference has generated controversy in other contexts. AMC Entertainment previously criticized a Robinhood token representing its equity. Similarly, OpenAI expressed opposition in July 2025 when Robinhood launched tokens connected to the private company without obtaining authorization.OKX’s documentation explicitly clarifies that its tokenized stock products do not confer actual ownership or any shareholder entitlements.Within the United States, the Securities and Exchange Commission continues evaluating how tokenized equity markets might function under existing securities regulations. Nasdaq secured SEC authorization in March for a restricted trial program involving select Russell 1000 constituents, where tokenized versions maintain identical rights as traditional shares.The European expansion operates under OKX Europe Markets Ltd., which holds regulatory authorization from the Malta Financial Services Authority pursuant to Malta’s Investment Services Act.The post OKX Expands European Trading With OpenAI and Anthropic Pre-IPO Futures Offering 10x Leverage appeared first on Blockonomi.