OKX Bags Full Singapore License, Taps Former MAS Official as CEO
OKX just scored a full license in Singapore, letting it offer digital payment services and crypto trading, while also hiring a former top regulator as CEO.
Key points:
- Full MPI license: OKX is now fully licensed to offer digital payment tokens and cross-border money transfer services in Singapore.
- New CEO appointment: Gracie Lin, a former MAS official, has been appointed as the CEO of OKX Singapore.
- Expanded services: The license allows OKX to exceed the previous volume limitations for payment services in Singapore.
- Strategic importance: Singapore is a priority market for OKX, reinforcing its position as a global crypto hub.
- Competitive landscape: OKX is positioning itself to compete with major exchanges like Binance in the region.
OKX Strengthens Presence in Singapore with Key Regulatory Approval:
OKX, one of the big dogs in the crypto exchange world, just leveled up in Singapore. They snagged a full Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS).
What does that mean? They’re now legally allowed to offer digital payment tokens and handle cross-border money transfers.
Think of it as getting the keys to the city—it can now facilitate all the crypto trading they want, with no pesky volume restrictions holding them back.
But they didn’t stop there. They also brought on Gracie Lin as their new CEO in Singapore.
And she’s no newbie—Lin’s resume includes stints at MAS (yep, the same folks who handed out that shiny new license), the sovereign wealth fund GIC, and even Grab.
Her mission? To tailor OKX’s offerings to suit Singapore’s savvy crypto crowd and push the company’s local strategy into high gear.
So, why does this matter? Singapore is a critical hub in the global digital asset space, and the crypto exchange isn’t shy about its ambitions here.
Read more: OKX to Close Accounts That Interact with Tornado Cash
With this license, they’re not just playing the game—they’re upping the stakes, especially with Binance already in the ring.
As it continues to grow its influence in Asia, this latest move could be the game-changer they need to stay ahead of the pack.
