Iaros Belkin asking OKX Europe CEO Erald Ghoos about X-Perps’ risk mitigation mechanisms at PBW 2026

Good to see you, sir. Sure, thanks. Iaroslav Belkin, Irish Tech News. I want to roll back a little bit to the risk mitigation that you mentioned earlier. Do you see that as being risk lowered enough for the investors to be interested? You mean the consumer protection? Yes. This product, it is a high-risk product. Right, it's not suitable for everybody. So what we have now done as well is we added, completely in line with the ESMA and with all the regulations on MiFID, we added the suitability assessment or the appropriateness test, let's call it like that, which is a set of 3 categories of questions and, and, and, and, uh, that users need to complete and, and, and fill in and pass before they can have access to this product. It's like an education, it's a knowledge test, it's an experience test. So our consumers who want to have access to that product will need to pass that appropriateness test before getting access to that, that product. So there is a filter upfront which is required by the regulator so that not anybody who does not have the right financial education or, or experience can have access to that money. And that's a big difference with offshore platforms where they— there is no consumer protection there. So you lose your money, bad luck. This was not a product that was suited or fitted for you, bad luck. So that is indeed that gap that we really want to try to fit now, to make sure that we bring that product under a regulated environment to the consumers in Europe, with— to the ones who, who, who, who can use this product. It's a niche segment, right? It's not accessible to everybody. Great question.