OKX earns Singapore crypto license, names former regulator as new CEO

Dwelling » Ecosystem » OKX earns Singapore crypto license, names former regulator as contemporary CEO

Gracie Lin brings practically two decades of ride from Rob, MAS, and GIC to handbook OKX’s Singapore operations.

OKX SG Pte. Ltd., a subsidiary of worldwide crypto alternate OKX, has obtained a Main Fee Establishment (MPI) license from the Financial Authority of Singapore (MAS), according to a Sept. 2 announcement.

The license enables OKX SG to give digital payment tokens and sinful-border cash switch products and companies, including place shopping and selling of crypto for Singapore potentialities. Additionally, the company has appointed Gracie Lin as its CEO, who has earlier ride as MAS’ Deputy Director and Head of Money Markets.

Lin used to be moreover managing director at Rob and vice president at GIC. She holds levels from the College of Chicago and Yale College.

“Singapore is a world-class digital asset hub and a actually mighty market for OKX. I’m wrathful to be fragment of the personnel constructing our presence right here. The MPI license is a wanted step in our gallop, and we’re more dedicated than ever to enabling glean entry to to digital sources for our potentialities, and contributing to the community and ecosystem,” mentioned Lin.

OKX SG obtained its in-precept approval for an MPI License from the MAS in February 2024. The company is now constructing a personnel of specialists to make stronger its plans to back local potentialities in Singapore.

Fifth supreme alternate

According to the “Market Portion of Centralized Crypto Exchanges, by Trading Quantity” document by CoinGecko, OKX used to be the fifth-supreme centralized alternate in shopping and selling quantity in Q2 with over $257 billion traded on this interval.

Critically, the alternate managed to back its dominance for the interval of many of the critical two quarters of the one year, staying above 7% moreover for June.

Moreover, OKX’s challenge arm and the Aptos Foundation closed a partnership deal on Aug. 1 to foster the event of the ecosystem.