OKX, a leading global crypto exchange and Web3 technology company, has achieved a significant milestone in Singapore. Its local entity, OKX SG Pte. Ltd., has been granted a Major Payment Institution (MPI) license by the Monetary Authority of Singapore (MAS). This license enables OKX SG to provide digital payment token services and cross-border money transfers, including cryptocurrency trading for Singaporean customers.
Key Developments
- MPI License Approval: OKX SG can now offer regulated digital asset services under Singapore’s Payment Services Act 2019.
- Leadership Appointment: Gracie Lin, a seasoned executive with experience at Grab, MAS, and GIC, has been named CEO of OKX SG.
- Strategic Focus: Lin will drive the development of compliant digital payment solutions tailored to Singapore’s market.
Gracie Lin’s Vision for OKX SG
Lin emphasized Singapore’s role as a global digital asset hub and OKX’s commitment to the ecosystem:
"The MPI license is a pivotal step in our journey. We’re dedicated to expanding access to digital assets while contributing to the community. I look forward to collaborating with partners and customers to deliver innovative services."
Background and Expertise
Gracie Lin’s Credentials:
- Holds a Master’s in International & Development Economics from Yale.
- Formerly led regional strategy at Grab and held roles in financial regulation.
- OKX’s Global Footprint: The company operates one of the world’s largest crypto exchanges and a widely used Web3 wallet.
FAQ Section
What services does the MPI license allow OKX SG to offer?
The license permits digital payment token trading and cross-border money transfers, including cryptocurrency spot trading.
Why is Singapore important for OKX’s strategy?
Singapore’s robust regulatory framework and status as a financial hub align with OKX’s goals for secure, scalable digital asset services.
How will OKX SG serve local customers?
OKX SG is assembling a team of experts to develop compliant products, ensuring alignment with MAS standards and customer needs.
👉 Explore OKX’s licensed services in Singapore
About OKX
OKX is a technology firm focused on blockchain accessibility, offering:
- OKX Exchange: A top-tier crypto trading platform.
- OKX Wallet: A multi-chain Web3 wallet.
- Institutional Solutions: Bridging crypto and traditional finance.
Disclaimer: Digital assets involve risks. OKX does not provide investment advice.
For media inquiries, contact: [email protected]
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