OKX has received permission to license a payment institution in Singapore
OKX Exchange has received approval for an MPI license in Singapore. The president of the company stated that the country has always been a priority for the exchange in terms of its global strategy.
The OKX cryptocurrency exchange has received the approval in principle of the license of a large payment institution (MPI) from the Monetary Authority of Singapore (MAS).
The report says that the license will allow OKX to provide a variety of payment services and exceed the transaction volume limits set by Singapore's local regulator.
Hong Fang, the company's president, said that Singapore has always been a priority for the exchange in terms of its global strategy. In his opinion, the country attracts entrepreneurs who are exploring new markets. In addition, Fang called the regulatory framework of the region "clear and thoughtful."
The executive added that in the future OKX will work to provide local banking connections for its customers and expand its offerings.
Recall that in October 2023, the Coinbase cryptocurrency exchange received a MAS license from the Monetary Authority of Singapore. In January 2024, the regulator issued a similar permit to the South Korean cryptocurrency exchange Upbit.
Source: https://incrypted.com/okx-poluchila-razreshenie-na-licenziyu-platezhnogo-uchrezhdeniya-v-singapure/
