OKX SG Receives MPI License from Monetary Authority of Singapore and Welcomes Gracie Lin as CEO
SINGAPORE, Sept. 2, 2024 /PRNewswire/ -- OKX, a leading global crypto exchange and Web3 technology company, today announced that its local entity, OKX SG Pte. Ltd. (OKX SG), received a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS), and appointed Gracie Lin as CEO of OKX SG.
The license granted under the Payment Services Act 2019 (PS Act) allows OKX SG to offer digital payment token and cross-border money transfer services, including spot (buy and sell) trading of cryptocurrencies for customers in Singapore.
In her role as CEO, Lin will oversee the company's strategic initiatives, including the development of permitted digital payment token products and services designed to meet the needs of Singapore customers.
Lin brings nearly two decades of experience across the financial, public and technology sectors to OKX SG. Prior to joining OKX, she was part of the management team at Grab, heading the Regional Strategy & Economics team. Before that, she held various positions at MAS and the sovereign wealth fund GIC, giving her extensive experience in management, operations, business strategy, and financial regulation. She graduated from the University of Chicago with a Bachelor's degree in Economics and Yale University with a Master's degree in International & Development Economics.
The MPI license approval and the appointment of Lin mark significant milestones for OKX in Singapore, which is a core market for OKX's global development strategy.
OKX SG CEO Gracie Lin said: "Singapore is a world-class digital asset hub and an important market for OKX. I am excited to be part of the team building our presence here. The MPI license is an important step in our journey, and we are more committed than ever to enabling access to digital assets for our customers, and contributing to the community and ecosystem. I look forward to continuing my engagement with our partners, customers and the wider community here to see how we can best serve them."
OKX SG received its in-principle approval for an MPI License from the MAS in February 2024, and is building a world-class team of subject-matter experts to support the company's plans to serve local customers in Singapore.
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About OKX
OKX is a technology company with a mission to organize the world's blockchains and make them more accessible and useful.
We want to create a future that makes our world more efficient, transparent and connected.
OKX began as a crypto exchange giving millions of people access to trading and over time became among the largest platforms in the world. In recent years, we have developed one of the most connected onchain wallets used by millions to access decentralized applications (dApps).
OKX is a brand trusted by hundreds of large institutions seeking access to crypto markets on a reliable platform that seamlessly connects with global banking and payments.
Our most well-known products include: The OKX Exchange, OKX Wallet, OKX Marketplace, OKX Explorer, OKX Chain and OS for developers, OKX Ventures and OKX Institutional Services. To learn more about OKX, download our app or visit: okx.com
Disclaimer
This announcement is provided for informational purposes only. It is not intended to provide any investment, tax, or legal advice, nor should it be considered an offer to purchase, sell, hold or offer any services relating to digital assets. Digital assets, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition and risk tolerance. OKX does not provide investment or asset recommendations. You are solely responsible for your investment decisions, and OKX is not responsible for any potential losses. Past performance is not indicative of future results. Please consult your legal/tax/investment professional for questions about your specific circumstances.
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