A message from OKX President Hong Fang
What's New
Today, we announced two major developments in Singapore. Both developments showcase our continued commitment to building responsibly in the Lion City.
- MPI License Approval: Following in-principle approval for a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS) in February, we've now received full MPI license approval. This milestone reinforces our long-term commitment to Singapore, a key market in our global strategy. We're privileged to contribute to the local community securely and transparently.
- New Singapore CEO: We're thrilled to appoint Gracie Lin as our Singapore CEO. Gracie brings extensive experience in public policy, investment management, and tech startups. Her leadership ensures we remain accountable and relevant to local customers. 👉 Learn more about our Singapore leadership
Enhanced Product Suite for Singapore
We're upgrading our product offerings to comply with local regulations:
- Buy/sell/convert trading is now live.
- Post-MPI license upgrades will include seamless local bank connectivity for easier deposits/withdrawals.
Long-term Goals: Beyond products, we aim to:
- Collaborate with regulators and partners.
- Support local digital asset industry growth.
- Develop infrastructure and talent.
The Bigger Picture
Our mission is to empower customers with responsible innovation. Two core strategies guide us:
1. Build Locally
- Hire top local leaders (e.g., Gracie Lin in Singapore).
- Tailor products to regional needs.
- Strengthen grassroots crypto communities in key markets like Europe, the Middle East, and Asia.
👉 Meet our global leadership team
2. Build Responsibly
- Prioritize compliance (e.g., MiCA Hub in Malta for EU services).
- Bridge crypto and traditional finance (TradFi).
- Foster trust through regulated innovation.
Looking Ahead
As we approach a decade in crypto, our focus remains on:
- Executing local/responsible strategies.
- Expanding Singapore’s role as an innovation hub.
- Sharing updates on global progress in 2024 and beyond.
FAQs
Q: Why is Singapore important to OKX?
A: Singapore is a strategic market for regulatory innovation and digital asset growth, aligning with our global compliance goals.
Q: What does the MPI license allow OKX to do?
A: It enables secure payment services and paves the way for enhanced banking integrations for Singapore users.
Q: Who is Gracie Lin?
A: A seasoned leader with expertise in tech and finance, appointed to drive OKX’s Singapore operations.
Q: How does OKX ensure compliance?
A: Through licenses (e.g., MPI, MiCA) and close collaboration with regulators worldwide.