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Crypto Exchange OKX Now Fully Licensed in Singapore

Twitter icon  •  Published 2 months ago  •  Hassan Maishera

Cryptocurrency exchange OKX announced that it has received a full license in Singapore, allowing it to offer digital payment tokens and cross-border money transfer services.

TL;DR

  • Crypto exchange OKX has received a full license in Singapore.

  • The license allows it to offer digital payment tokens and cross-border money transfer services.

OKX Now Fully Licensed in Singapore

OKX, one of the leading cryptocurrency exchanges in the world, announced that its Singapore entity, OKX SG, received the full Major Payment Institution license from the Monetary Authority of Singapore.

According to the OKX, the license allows it to offer digital payment tokens and cross-border money transfer services, including spot crypto trading for Singaporean investors. 

In addition to the license, OKX also hired Gracie Lin, a former MAS official, as CEO of the regional arm. Lin intends to develop crypto products and services suited to Singaporean investors' needs.

This latest development comes after the crypto exchange received its “in-principle” MPI license from Singapore in March this year. It also comes barely three months after OKX officially launched in the Netherlands, introducing a local trading platform and a Web3 wallet.

OKX remains one of the leading crypto exchanges in the world, processing over $67 billion worth of cryptocurrencies last month. 

 

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Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.