September 4, 2024
By Our Correspondent
OKX SG is now authorized to provide digital payment token services and facilitate cross-border money transfers, which encompass the trading of cryptocurrencies.
Singapore is recognized as a premier global cryptocurrency hub, offering well-defined regulations for the operation of cryptocurrency businesses.
The Singapore branch of the cryptocurrency exchange OKX has been granted a Major Payment Institution (MPI) license by the central bank of Singapore.
As per an announcement made on Monday, OKX SG is now equipped to deliver digital payment token services and cross-border money transfer solutions, including the buying and selling of cryptocurrencies.
Additionally, the company has appointed Gracie Lin as the CEO of OKX SG to lead the introduction of new products and services that it is now authorized to provide to customers in Singapore.
In Singapore, cryptocurrencies are classified as digital payment tokens under the Payment Services Act (PSA), reinforcing the country’s status as a leading crypto hub with clear operational guidelines for cryptocurrency firms.
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