The cryptocurrency and Web3 technology landscape in Singapore has taken a significant leap forward with the official announcement from OKX, a global leader in digital asset platforms. On September 2, OKX revealed that its local entity, OKX SG Pte. Ltd. (OKX SG), has been granted the Major Payment Institution (MPI) license by the Monetary Authority of Singapore (MAS). This pivotal development coincides with the appointment of Gracie Lin as the new Chief Executive Officer of OKX SG, marking a strategic milestone in OKX’s long-term commitment to the Singapore market.
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Regulatory Milestone: MPI License Empowers OKX SG
Under Singapore’s Payment Services Act 2019 (PS Act), the MPI license authorizes OKX SG to legally offer digital payment token (DPT) services and cross-border money transfer services within the country. This includes core functionalities such as spot trading — buying and selling cryptocurrencies — which are now fully compliant with MAS regulations.
This regulatory approval is more than just a formality; it represents a major trust signal from one of the world’s most respected financial regulators. For users in Singapore, it means greater confidence in the security, transparency, and operational integrity of the platform they use to access digital assets.
The journey to full licensure began in February 2024 when OKX SG received in-principle approval from MAS. Since then, the company has worked diligently to meet all compliance requirements, including robust anti-money laundering (AML), counter-terrorist financing (CTF), and cybersecurity standards.
Now fully licensed, OKX SG is positioned to expand its product suite tailored specifically for Singaporean users, offering enhanced trading experiences while adhering to strict local regulatory frameworks.
Leadership Vision: Gracie Lin Takes the Helm
At the heart of OKX SG’s new chapter is Gracie Lin, an accomplished executive with nearly two decades of experience spanning finance, public policy, and technology innovation. As the newly appointed CEO, Lin will lead strategic initiatives focused on building compliant, user-centric digital asset solutions for the Singapore market.
Her professional background speaks volumes about her qualifications:
- Former member of the management team at Grab, where she led regional strategy and economic insights.
- Held key roles at Monetary Authority of Singapore (MAS) and GIC, Singapore’s sovereign wealth fund.
- Expertise in financial regulation, operational management, and business strategy within complex, regulated environments.
Lin holds a Bachelor of Arts in Economics from the University of Chicago and a Master’s degree in International and Development Economics from Yale University, grounding her leadership in both academic rigor and real-world application.
With deep roots in Singapore’s financial ecosystem, Lin brings not only regulatory insight but also a clear vision for sustainable growth in the digital asset space.
“Singapore is a world-class hub for digital assets and a critical market for OKX. I’m thrilled to join the team and help build our presence here. The MPI license is a key milestone in our journey, and we are more committed than ever to providing customers with access to digital assets while contributing to community and ecosystem development. I look forward to continuing engagement with our partners, clients, and the broader community to better serve their needs.”
— Gracie Lin, CEO of OKX SG
Why Singapore Matters in the Global Crypto Ecosystem
Singapore has emerged as one of Asia’s most progressive jurisdictions for fintech and blockchain innovation. Backed by a stable legal framework, strong investor protection laws, and proactive regulatory guidance from MAS, the city-state continues to attract top-tier Web3 companies seeking a reliable base for regional operations.
For OKX, establishing a strong foothold in Singapore is central to its global expansion strategy. The country serves as a gateway to Southeast Asia — a region with rising crypto adoption rates, increasing institutional interest, and growing demand for secure, regulated platforms.
By securing the MPI license and appointing a leader of Lin’s caliber, OKX demonstrates its long-term commitment to compliance, user safety, and ecosystem development in one of the world’s most sophisticated financial markets.
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Building a Trusted Digital Asset Future
OKX SG is now assembling a world-class team of experts in compliance, engineering, product development, and customer experience to support its mission of delivering secure and innovative digital asset services.
The focus will be on:
- Launching localized products that meet the unique needs of Singaporean users.
- Enhancing security protocols and user verification processes.
- Expanding educational resources to promote responsible crypto engagement.
- Fostering partnerships with local institutions, developers, and regulators.
This approach aligns with MAS’s vision of fostering innovation while maintaining financial stability — a balance that is essential for sustainable growth in the digital economy.
Frequently Asked Questions (FAQ)
Q: What is the Major Payment Institution (MPI) license?
A: The MPI license is issued by the Monetary Authority of Singapore under the Payment Services Act 2019. It allows companies to provide services such as digital payment token transactions and cross-border money transfers, subject to strict regulatory oversight.
Q: Can Singapore residents now trade crypto on OKX SG?
A: Yes. With the MPI license, OKX SG can legally offer spot trading of cryptocurrencies and related services to users in Singapore, ensuring full compliance with local laws.
Q: Who is Gracie Lin?
A: Gracie Lin is the newly appointed CEO of OKX SG. She brings extensive experience from senior roles at Grab, MAS, and GIC, with expertise in finance, regulation, and technology strategy.
Q: Is OKX SG different from the global OKX platform?
A: Yes. OKX SG is a locally incorporated entity designed specifically to serve Singapore users under MAS regulations. It operates with tailored products, compliance systems, and customer support aligned with local requirements.
Q: How does this benefit crypto users in Singapore?
A: Users gain access to a globally recognized platform that meets high regulatory standards. This means improved security, transparent operations, better dispute resolution mechanisms, and peace of mind when trading digital assets.
Q: What’s next for OKX in Singapore?
A: OKX plans to expand its team, launch new localized features, deepen community engagement, and continue working closely with regulators to support responsible innovation in the digital asset space.
👉 See what’s next in regulated crypto innovation — explore OKX’s global vision.
Final Thoughts
The granting of the MPI license to OKX SG and the appointment of Gracie Lin as CEO underscore a maturing digital asset ecosystem in Singapore. As regulatory clarity increases and trusted players enter the market, users stand to benefit from safer, more accessible, and more innovative financial tools.
For OKX, this moment represents not just regulatory achievement but a renewed commitment to building the future of finance — one compliant step at a time.