OKX Receives a License in Singapore

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OKX has announced that its Singapore branch, OKX SG, has successfully obtained a Major Payment Institution license from the Monetary Authority of Singapore.

This license grants OKX SG the ability to provide digital payment token and cross-border money transfer services, as well as spot crypto trading for investors in Singapore.

In addition, they have appointed Gracie Lin, a former official from the MAS, GIC, and Grab, as the CEO of their regional arm.

According to their press release, Lin plans to focus on creating crypto products and services that cater specifically to the needs of Singaporean investors.

OKX originally received an “in-principle” MPI license from Singapore in March of this year.