Crypto exchange OKX has obtained a full license in Singapore, allowing it to facilitate cryptocurrency trading and cross-border transfers.
The company has also appointed Gracie Lin, a former regulator, as CEO of its branch, OKX Singapore.
On September 2, the platform announced it had received a major payment institution (MPI) license from the Monetary Authority of Singapore (MAS).
This license allows OKX to offer cross-border money transfer services and digital payment tokens.
With the MPI license, OKX can exceed the volume limitations set for payment institutions. This means it can exceed the volume limit of $2.2 million for one payment service and exceed the monthly limit of $4.4 million for two or more payment services.