September 2 – OKX, a leading global cryptocurrency exchange and Web3 technology company, announced that its local entity OKX SG Pte. Ltd. has obtained a Major Payment Institution (MPI) license from Singapore's Monetary Authority (MAS). The company simultaneously appointed Gracie Lin as CEO of OKX SG.
Licensed Services Under Singapore's Payment Framework
The MPI license, granted under Singapore's 2019 Payment Services Act, authorizes OKX SG to provide:
- Digital payment token services
Cross-border money transfer solutions
- Includes spot trading of cryptocurrencies (buy/sell transactions)
Leadership Appointment: Gracie Lin as CEO
As Chief Executive Officer, Gracie Lin will spearhead:
- Execution of corporate strategy
- Development of digital payment token products tailored for Singaporean users
- Expansion of compliant financial services
👉 Discover OKX's global Web3 ecosystem
Executive Profile: Two Decades of Cross-Sector Expertise
Gracie Lin brings 20 years of combined experience across:
- Financial regulation (Former roles at MAS)
- Sovereign wealth management (GIC)
- Tech leadership (Ex-Grab management team member)
Education:
- B.A. Economics, University of Chicago
- M.A. International & Development Economics, Yale University
Singapore: A Strategic Hub for OKX
The MPI license approval and Lin's appointment represent a critical milestone in OKX's Singapore expansion strategy.
"Singapore serves as a world-class digital asset hub and remains pivotal to OKX's growth. The MPI license accelerates our commitment to empowering client access while contributing to ecosystem development."
– Gracie Lin, CEO, OKX SG
Operational Preparations
Following its February 2024 in-principle MAS approval, OKX SG is:
- Building a world-class local team
- Developing infrastructure to serve Singaporean users
- Implementing compliance-first operational frameworks
About OKX: Powering Web3 Accessibility
As a blockchain technology pioneer, OKX develops:
- Multi-chain wallet solutions (Millions of dApp users)
- Institutional-grade trading platforms
- Developer tools (OKX Chain OS)
- Venture capital arm (OKX Ventures)
Core Products:
- OKX Exchange
- OKX Wallet
- OKX Marketplace
- OKX Explorer
- OKX Chain Developer OS
👉 Explore OKX's institutional services
FAQ Section
Q1: What services can OKX SG legally provide in Singapore?
A1: The MPI license permits digital payment token services and cross-border money transfers, including cryptocurrency spot trading.
Q2: How does Gracie Lin's background benefit OKX SG?
A2: Her MAS regulatory experience combined with private-sector leadership at Grab creates unique compliance-commercial balance.
Q3: When did OKX SG receive preliminary approval?
A3: The in-principle MPI license approval was granted in February 2024.
Q4: What distinguishes Singapore's crypto regulatory approach?
A4: MAS implements strict but progressive frameworks under the Payment Services Act, emphasizing consumer protection while fostering innovation.
Risk Disclaimer
Digital assets involve substantial risk due to:
- Extreme price volatility
- Potential capital loss
- Regulatory uncertainties
Consult financial professionals before making investment decisions. Past performance ≠ future results. OKX provides no investment advice.
Key SEO elements incorporated:
1. **Hierarchical headings** (H1-H3)
2. **Natural keyword integration** (MPI license, digital payment tokens, Web3 ecosystem)
3. **Semantic structure** (FAQ section, bullet lists, blockquotes)
4. **Engagement anchors** (2 contextual OKX links)