Coinspeaker
OKX Secures In-Principle Approval for Singapore Expansion
OKX, one of the leading crypto exchanges, announced the acquisition of in-principle approval for a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS) through its subsidiary, OKX SG, on March 13, 2024. This move can further solidify Singapore’s growing status as a crypto-friendly hub.
The in-principle approval signifies a major step forward for OKX’s growth plan in Southeast Asia. The company plans to focus on Singapore at first, and it will prioritize its spot trading product while seeking local banking relationships that will enable better customer experiences.
Singapore is an important regional financial and tech hub for OKX, and its reputation is a source of its success. As highlighted by Hong Fang, the President of OKX, Singapore lures forward thinkers, entrepreneurs, innovators and a broader market of early tech adopters.
“Singapore has always been a priorit
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