OKX arrives in Singapore and acquires the license to operate as a Major Payment Institution

OKX has disclosed that it received the Major Payment Institution (MPI) license in Singapore directly from the Monetary Authority of Singapore (MAS). The crypto-exchange has also appointed Gracie Lin as the new CEO of OKX SG.

OKX has disclosed that it has obtained the Major Payment Institution (MPI) license directly from the Monetary Authority of Singapore (MAS).

Additionally, the crypto-exchange has announced the appointment of Gracie Lin as the new CEO of OKX SG in order to further its objective of becoming a global crypto center.

“We integrate cryptography into the core of financial markets and promote its widespread adoption: In Singapore, we have achieved the Major Payment Institution (MPI) license from MAS, which enables us to provide cross-border money transfer services and digital payment tokens. We have appointed Gracie Lin as the CEO of OKX SG in order to oversee our initiative in Singapore as a global center of digital assets. To acquire additional information regarding our innovation initiatives.”

OKX Singapore will be able to provide cross-border money transfer services and digital payment tokens as a result of the new license.

This is a genuine milestone for the crypto-exchange in the realm of regulation. In reality, the MPI license will enable OKX to surpass the volume restrictions established for payment institutions.

OKX Singapore has appointed Grace Lin as its new CEO, in addition to obtaining a new license. Lin declared in a post that he was born and reared in Singapore and has always aspired to make a positive impact on his country.

The new CEO of OKX SG now views this new role as a genuine springboard, having previously held numerous roles at MAS, GIC, and Grab.

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