MAS grants OKX an MPI licence

The company can now provide cross-border money transfer services.

Cryptocurrency exchange OKX has been granted an in-principle approval by the Monetary Authority of Singapore (MAS) for a major payment institution (MPI) licence.

The approval allows OKX to provide digital payment token and cross-border money transfer services in Singapore under the Payment Services (PS) Act  2019. 

“The in-principle approval from MAS is not only a validation of our commitment to date, but also an exciting opportunity for us to continue as a responsible contributor to the Singapore crypto ecosystem.” OKX President, Hong Fang, said.

OKX is currently available for users in Singapore through web, iOS, or Google Play apps.