SINGAPORE — In a major development for the digital asset landscape in Southeast Asia, OKX SG Pte. Ltd. (OKX SG) has officially received a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). This regulatory milestone enables OKX SG to legally offer digital payment token services and cross-border money transfer solutions to customers in Singapore.
The license, granted under Singapore’s Payment Services Act 2019, authorizes OKX SG to provide spot trading services for cryptocurrencies, allowing users to buy and sell digital assets with confidence under a trusted regulatory framework. This achievement reinforces OKX’s long-term commitment to compliance, security, and innovation in one of the world’s most forward-thinking fintech hubs.
Alongside the licensing announcement, OKX SG has appointed Gracie Lin as its new Chief Executive Officer. Lin will lead strategic operations and drive the expansion of compliant digital asset products tailored to Singapore’s evolving market demands.
A Strategic Leadership Appointment
Gracie Lin brings nearly 20 years of cross-sector expertise in finance, technology, and public policy. Her career spans key leadership roles at some of Asia’s most influential organizations, including Grab, where she led the Regional Strategy & Economics team. Prior to that, she held senior positions at both the Monetary Authority of Singapore (MAS) and GIC, Singapore’s sovereign wealth fund.
Her deep understanding of financial regulation, macroeconomic trends, and digital innovation makes her uniquely qualified to guide OKX SG through its next phase of growth.
Lin holds a Bachelor’s degree in Economics from the University of Chicago and a Master’s in International & Development Economics from Yale University—credentials that underscore her analytical rigor and global perspective.
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Strengthening Trust Through Regulation
The MPI license is more than a legal authorization—it's a symbol of trust and accountability. By meeting MAS’s stringent requirements for capital adequacy, risk management, and anti-money laundering (AML) compliance, OKX SG demonstrates its dedication to building a secure and sustainable platform for retail and institutional users alike.
With this license, Singapore-based customers can now access spot crypto trading services through a locally regulated entity, reducing counterparty risk and enhancing consumer protection.
This move aligns with global trends where regulators are increasingly demanding higher standards from digital asset platforms. For OKX, compliance isn’t an afterthought—it's embedded in the company’s DNA.
“Singapore is a world-class digital asset hub and an important market for OKX,” said Gracie Lin. “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.”
Building a Local Presence with Global Impact
OKX SG received in-principle approval from MAS in February 2024 and has since been assembling a team of local experts in blockchain technology, cybersecurity, regulatory compliance, and customer experience. This localized approach ensures that products and services are not only compliant but also culturally and economically relevant to Singaporeans.
As part of its broader Web3 strategy, OKX is investing in developer tools, wallet infrastructure, and decentralized application (dApp) integration—efforts that support Singapore’s vision of becoming a smart nation powered by blockchain innovation.
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FAQs: Your Questions Answered
Q: What is an MPI license?
A: An MPI (Major Payment Institution) license is issued by the Monetary Authority of Singapore under the Payment Services Act 2019. It allows companies to provide designated payment services, including digital payment token transactions, with higher transaction limits and greater operational scope compared to standard licenses.
Q: What services can OKX SG offer under the MPI license?
A: OKX SG is authorized to provide spot trading of cryptocurrencies (buy/sell functions) and cross-border money transfer services using digital payment tokens—all within MAS regulatory oversight.
Q: Is OKX SG now fully operational in Singapore?
A: Yes. With full MPI licensing, OKX SG can legally serve Singaporean customers through compliant digital asset trading and payment services.
Q: Who is Gracie Lin and why is her appointment significant?
A: Gracie Lin is a seasoned executive with extensive experience in financial regulation and tech strategy. Her background at MAS and GIC gives her unique insight into both policy and market dynamics, making her ideal to lead a regulated crypto firm in Singapore.
Q: How does this benefit users in Singapore?
A: Users gain access to a secure, MAS-regulated platform for buying and selling cryptocurrencies. This increases trust, improves fund safety, and ensures alignment with local laws and consumer protections.
Q: Does this mean OKX is expanding across Southeast Asia?
A: While Singapore is a strategic hub, OKX’s regional expansion depends on local regulations. The success in Singapore sets a precedent for future market entries under compliant frameworks.
A Vision for the Future of Finance
OKX’s mission goes beyond being a crypto exchange. It aims to organize the world’s blockchains and make decentralized technologies accessible, useful, and secure for everyone—from individual investors to large institutions.
By combining cutting-edge Web3 technology with rigorous compliance standards, OKX SG is helping shape a future where digital assets are seamlessly integrated into everyday financial life.
Its product suite—including the OKX Exchange, OKX Wallet, OKX Marketplace, OKX Explorer, OKX Chain, and developer-focused OS—offers a comprehensive ecosystem for engaging with blockchain technology.
For institutions, OKX Institutional Services provides secure custody, prime brokerage, and market-making tools—all designed to bridge traditional finance with the decentralized economy.
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Final Thoughts
The MPI license award and the appointment of Gracie Lin mark pivotal moments in OKX’s journey in Asia. They reflect not just regulatory progress but also a deeper commitment to responsible innovation.
As digital assets continue to evolve, platforms like OKX SG play a crucial role in balancing accessibility with security—ensuring that growth doesn’t come at the expense of trust.
With strong leadership, local expertise, and global reach, OKX SG is well-positioned to become a cornerstone of Singapore’s digital economy—and a model for regulated crypto platforms worldwide.