Global cryptocurrency exchange OKX has recently announced that its Singapore entity, OKX SG, has received a full Major Payment Institution license from the Monetary Authority of Singapore.
The company has also appointed former MAS official Gracie Lin as CEO of its regional arm. According to the official press release, this license enables OKX SG to provide services such as digital payment token and cross-border money transfers, including spot crypto trading, to investors in Singapore.
Lin, who has previously worked at MAS, sovereign wealth fund GIC, and ride-hailing company Grab, plans to focus on developing crypto products and services specifically tailored to the needs of Singaporean investors.
Earlier this year, in March, OKX had received an “in-principle” MPI license from Singapore. OKX President Hong Fang had mentioned that Singapore is a key market for the digital asset exchange.
