Global leading cryptocurrency exchange and Web3 technology company OKX announced that its local entity OKX SG Pte. Ltd. has been awarded a Major Payment Institution (MPI) license by Singapore's Monetary Authority (MAS), with Gracie Lin appointed as CEO of OKX SG.
About the MPI License
The license granted under Singapore's Payment Services Act 2019 authorizes OKX SG to:
- Provide digital payment token services to Singapore users
- Offer cross-border money transfer services
- Facilitate cryptocurrency spot trading (buy/sell)
👉 Discover OKX's regulated crypto services
Leadership Appointment
As CEO, Gracie Lin will oversee:
- Execution of strategic plans
- Development of digital payment token products tailored for Singaporean users
- Regulatory compliance and business operations
Gracie Lin's Professional Background
With nearly 20 years of cross-sector experience, Lin previously served as:
- Management team member at Grab (leading regional strategy)
- Senior roles at Singapore's MAS
- Positions at sovereign wealth fund GIC
Education:
- BA in Economics (University of Chicago)
- MA in International & Development Economics (Yale University)
Singapore's Strategic Importance
Singapore represents a core market in OKX's global expansion strategy. The MPI license approval marks a significant milestone for OKX's operations in the city-state.
CEO Statement
"Singapore is a world-class digital asset hub and crucial market for OKX. The MPI license represents an important step in our journey to provide customers with secure access to digital assets while contributing to ecosystem development."
Next Steps
OKX SG received in-principle approval for the MPI license in February 2024 and is currently:
- Building a world-class expert team
- Developing localized services for Singaporean users
About OKX
As a global technology company, OKX focuses on:
- Blockchain infrastructure development
- Web3 accessibility solutions
- Institutional-grade crypto services
Key products include:
- OKX Exchange
- OKX Wallet
- OKX Marketplace
- OKX Chain developer ecosystem
FAQ Section
Q: What services can OKX SG now legally provide in Singapore?
A: Digital payment token services, cross-border transfers, and cryptocurrency spot trading under MAS supervision.
Q: When did OKX SG receive in-principle approval?
A: February 2024, with full license granted in September 2024.
Q: What makes Singapore significant for crypto businesses?
A: Its clear regulatory framework, financial hub status, and government support for blockchain innovation.
Q: How does the MPI license benefit users?
A: It ensures compliant, regulated access to crypto services with enhanced consumer protections.