OKX SG receives MPI license from MAS

They have appointed Gracie Lin as CEO.

Crypto exchange OKX announced that its local entity, OKX SG Pte. Ltd. (OKX SG), has obtained a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS).

The license granted under the Payment Services Act 2019 (PS Act) allows OKX SG to offer digital payment tokens and cross-border money transfer services, including spot trading of cryptocurrencies for customers in Singapore.

The company has also tapped Gracie Lin as CEO of OKX SG.

Lin will oversee the company's strategic initiatives, including the development of permitted digital payment token products and services.

"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," said Lin.

OKX SG received its approval for an MPI license from the MAS in February 2024.