365Crypto
OKX, a major cryptocurrency exchange, has received full licensing approval in Singapore, allowing it to offer crypto trading and cross-border payment services. The exchange also announced the appointment of a former regulator as CEO of OKX Singapore.
On September 2, OKX revealed that the Monetary Authority of Singapore (MAS) granted it a Major Payment Institution (MPI) license. This license enables OKX to facilitate cross-border money transfers and provide digital payment token services.
With the MPI license, OKX can operate beyond the usual transaction limits for payment institutions in Singapore. Licensed companies can now process more than 3 million Singapore dollars (around $2.2 million) in payments, and the monthly cap for payment services can exceed 6 million SG$ (approximately $4.4 million).
Leadership Change at OKX Singapore In addition to the license approval, OKX Singapore announced that Gracie Lin, a former executive at MAS, has been appointed as its new CEO. Lin emphasized the importance of Singapore in the company’s global strategy, calling it a significant digital asset hub.
In a statement, Lin shared her excitement about the new license, highlighting OKX’s commitment to expanding customer access and contributing to Singapore’s crypto community. She noted that the MPI license will allow the exchange to offer spot trading of cryptocurrencies and other digital payment services in Singapore.
