Singapore, Sept 2: OKX, a prominent global crypto exchange and Web3 technology company, has announced that its Singapore entity, OKX SG Pte. Ltd., has received a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS).
Alongside this development, Gracie Lin has been appointed as the CEO of OKX SG.
The MPI license, granted under the Payment Services Act 2019, enables OKX SG to offer digital payment token and cross-border money transfer services.
This includes spot trading of cryptocurrencies for customers in Singapore.
Gracie Lin, who brings nearly two decades of experience in the financial, public, and technology sectors, will oversee the company’s strategic initiatives in Singapore.
Prior to joining OKX, Lin was part of the management team at Grab, leading the Regional Strategy & Economics team. She has also held key roles at MAS and the sovereign wealth fund GIC.
Expressing her enthusiasm for the new role, Lin said, “Singapore is a world-class digital asset hub and an important market for OKX. I am excited to be part of the team building our presence here. The MPI license is an important step in our journey, and we are more committed than ever to enabling access to digital assets for our customers and contributing to the community and ecosystem.”
The MPI license approval and Lin’s appointment are seen as significant milestones for OKX as it continues to expand its presence in Singapore, a key market in its global strategy.
OKX SG received its in-principle approval for the MPI License from MAS in February 2024 and is building a world-class team to support its plans for local customer service in Singapore.
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