coinspress.com
Cryptocurrency exchange OKX has been granted a Major Payment Institution (MPI) license by Singapore’s central bank.
This new license enables OKX Singapore to provide services related to digital payment tokens and cross-border money transfers, including cryptocurrency trading.
In addition to this regulatory milestone, OKX Singapore has appointed Gracie Lin as its new CEO.
Lin will be responsible for leading the development of new offerings for the company’s Singaporean customers.
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Under Singapore’s Payment Services Act (PSA), cryptocurrencies are classified as digital payment tokens, and the country is recognized for its clear regulatory framework that supports the cryptocurrency sector.