OKX Secures Major Payment Institution License and Appoints New CEO

Crypto exchange and web3 company OKX has made a significant move in the Singapore market by receiving a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). The MPI license, granted under the Payment Services Act 2019, allows OKX SG Pte. Ltd. to offer digital payment token services and cross-border money transfer capabilities, including spot trading of cryptocurrencies.

Gracie Lin has been appointed as the CEO of OKX SG. Lin brings nearly two decades of experience from various sectors, including finance, public service, and technology. Prior to joining OKX, Lin was a key member of Grab's Regional Strategy & Economics team and has held positions at MAS and GIC. She holds a Bachelor's degree in Economics from the University of Chicago and a Master's degree in International & Development Economics from Yale University.

In her new role, Lin will oversee the development of digital payment token products and services tailored for Singaporean customers. Lin commented, "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."