OKX Expands in Singapore: MPI License Approval & New CEO Appointment

Today marks a significant advancement for OKX in Singapore with two major developments that underline our commitment to fostering a responsible and thriving digital asset ecosystem in the Lion City. Firstly, we are thrilled to announce that following the in-principle approval received in February, the Monetary Authority of Singapore (MAS) has now granted us a Major Payment Institution (MPI) license. This milestone is pivotal in our journey to contribute securely and transparently to Singapore’s vibrant community and marks a key step in our global strategy.

Secondly, we are excited to welcome Gracie Lin as our new CEO for Singapore. Gracie’s extensive experience across public policy, investment management, capital markets, and tech startups makes her an ideal leader to drive our initiatives in this dynamic market. Her appointment reinforces our strategy to empower top local talents to lead and maintain our relevance to the needs of our local customers.

Enhancing Our Product Suite and Local Integration

Aligned with these milestones, we are actively enhancing our product offerings to meet the specific needs of our Singapore customers, adhering to local regulations. Our trading features, including buy, sell, and convert, are already operational. Following the MPI license acquisition, we are set to introduce seamless connectivity to local bank accounts, facilitating easy and efficient fund transfers for our users. More updates will follow as we continue to develop and refine our services.

Beyond Products: Contributing to Singapore’s Digital Asset Landscape

Our vision in Singapore extends beyond product offerings. We aim to play a pivotal role in shaping the local digital asset landscape by collaborating with regulators, partners, the community, and customers to foster responsible innovation. This involves tailoring our services to local requirements while also supporting the sector’s growth through infrastructure, talent, and knowledge development.

Global Strategy: Empowering Through Responsible Innovation

Our mission at OKX is centered on empowering our users through responsible innovation, a commitment that applies globally across all our operations:

1. Local Empowerment: We focus on nurturing strong local teams in key markets to connect deeply with customers and understand their unique needs. This grassroots approach ensures we remain relevant and impactful. The appointment of Gracie Lin as Singapore’s CEO is a testament to our dedication to enhancing our leadership in critical markets.
2. Responsible Building: Our approach to building responsibly influences every aspect of our operations, ensuring trust and seamless interactions between the crypto and traditional finance (TradFi) sectors. This principle has driven recent initiatives like establishing our MiCA Hub in Malta, poised to extend our crypto-asset services across the European Union.

Looking Forward: Continuing the Journey in Crypto

As we near a decade in the crypto industry, we remain committed to our strategic approach of building both locally and responsibly. Enhancing our presence in Singapore is a significant step in our ongoing journey to innovate responsibly and contribute positively to the community.

We look forward to driving further innovations and sharing updates on our continued expansion in Singapore and other regions as we advance into 2024 and beyond.