OKX SG has received a Major Payment Institution (MPI) license from Singapore's central bank. This is a big deal! With this license, they can now offer digital payment token services and cross-border money transfers, which means buying and selling cryptocurrencies is on the table.

On Monday, the announcement was made, and it’s clear that OKX SG is ready to expand its services for customers in Singapore. To lead this effort, they’ve appointed Gracie Lin as the CEO. She’ll be in charge of developing new products and services that the company can now provide.

In Singapore, cryptocurrencies are considered digital payment tokens. This classification falls under the Payment Services Act (PSA). The country is known as a leading crypto hub, thanks to its clear regulations. These guidelines help cryptocurrency firms understand how to operate effectively.

Overall, this move by OKX SG highlights their commitment to compliance and innovation in the digital finance space. It's an exciting time for the company and its customers!