Crypto firm OKX secures Singapore payments licence

Cryptocurrency exchange OKX announced that its Singaporean subsidiary has received in-principle approval for a payments licence to operate in the city-state.

The company on Wednesday said that the pending Major Payment Institution (MPI) Licence from the Monetary Authority of Singapore (MAS) demonstrated that it is “among the most trusted crypto platforms in the world”.

OKX said that it has been offering its products and services in Singapore under the Payment Services (Exemption for Specified Period) Regulations 2019, and that the in-principle approval from MAS would enable it to provide more access and opportunities to its customers.

In a statement, OKX president Hong Fang said that Singapore “has always been a priority country for us as part of our global strategy”.

OKX in January announced that it had been granted a regulatory licence in Dubai which allows it to offer crypto services to retail clients.

Cryptocurrency has seen renewed interest of late, with Bitcoin – often treated as a barometer for the overall market’s health – reaching a record high value of almost $73,000 this week



Share Story:

Recent Stories


Data trust in the AI era: Building customer confidence through responsible banking
In the second episode of FStech’s three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech examines the critical relationship between data trust, transparency, and responsible AI implementation in financial services.

Banking's GenAI evolution: Beyond the hype, building the future
In the first episode of a three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech explores how financial institutions can navigate the transformative potential of Generative AI while building lasting foundations for innovation.

Beyond compliance: Building unshakeable operational resilience in financial services
In today's rapidly evolving financial landscape, operational resilience has become a critical focus for institutions worldwide. As regulatory requirements grow more complex and cyber threats, particularly ransomware, become increasingly sophisticated, financial services providers must adapt and strengthen their defences. The intersection of compliance, technology, and security presents both challenges and opportunities.

Unleashing generative AI: A force multiplier for financial crime teams
This FStech webinar, sponsored by NICE Actimize sees industry experts examine the revolutionary impact of generative AI on financial crime operations, and provides actionable insights to enhance your compliance strategies.