- OKX was licensed in Singapore in March
- CEO for Singapore regional division will be Gracie Lin
One of the largest crypto exchanges in the world, OKX, has received its first license in Singapore.
The crypto exchange has also made Gracie Lin, a former MAS, the CEO of its regional division in Singapore.
Why Is the License in Singapore Important for OKX?
OKX has received a full MPI license from the Monetary Authority of Singapore for its OKX SG unit, allowing it to offer digital payment tokens and cross-border money transfer services, as well as spot crypto trading for Singaporean investors.
Gracie Lin, a former MAS and a participant in sovereign wealth fund GIC and crypto giant Grab, has been appointed to lead the effort. Lin will now be the regional CEO of OKX SG and will focus on developing crypto services for Singaporean investors.
For his part, President Hong Fang said that Singapore is a “priority market” for the digital asset exchange.
Conclusion
Singapore is one of those who are very active in adapting crypto.
This is a very good strategy against the backdrop that the economic boom of the past years has reached its limit, and to remain one of the key economies of the world new directions need to be developed.
OKX as a proven, and one of the most innovative crypto exchanges, is a great addition to the opportunities for Singaporean investors and should make Singapore even more attractive to the crypto industry.
