OKX Singapore, the Singapore arm of OKX, has received a Major Payment Institution (MPI) licence from the Monetary Authority of Singapore (MAS) and appointed Gracie Lin as its CEO.
The licence, issued under the Payment Services Act 2019, permits OKX Singapore to provide digital payment token services and cross-border money transfers, including cryptocurrency spot trading, to customers in Singapore.
Singapore is a key market in OKX’s global growth strategy, marking this new licence as an important achievement. However, significant progress is still needed, and Gracie Lin’s appointment as OKX Singapore’s CEO is aimed at building on this foundation.
With almost 20 years of experience in the financial, public and technology sectors, Lin joins OKX Singapore with a background in leadership and strategic roles. Before her current position, she was on the management team at Grab, leading the Regional Strategy and Economics division.
Earlier in her career, Lin held key roles at the MAS and the sovereign wealth fund GIC, gaining valuable expertise in management, operations, business strategy and financial regulation. She has a Bachelor’s degree in Economics from the University of Chicago and a Master’s in International and Development Economics from Yale University.
Commenting on her new role, Lin said: “Singapore is a world-class digital asset hub and an important market for OKX. I am excited to be part of the team building our presence here.
“The MPI licence 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. I look forward to continuing my engagement with our partners, customers and the wider community here to see how we can best serve them.”
OKX has made a lot of progress in its global strategy this year. In July, the Web3 company named Malta its Markets in Crypto Assets (MiCA) hub to fall in line with the European Union’s regulations.
