As a seasoned professional with extensive experience in both traditional finance and the digital asset sector, I find the recent development at OKX incredibly promising. Having worked closely with financial institutions like DBS and regulatory bodies such as MAS during my tenure at Grab and earlier roles, I am confident that Gracie Lin’s leadership will steer OKX SG towards success.
On OKX, users can now transfer Singapore Dollars to and from their accounts free of charge using PayNow and Fast and Secure Transfers, making it possible for seamless transactions within the island nation.
In a statement issued on Monday, November 18th, OKX announced plans to offer deposit and withdrawal services in Singapore dollars without charge, utilizing the PayNow and Fast and Secure Transfer payment systems for transactions.
The new service, accessible to clients in Singapore, is provided by DBS, a prominent international bank based in Singapore, according to the announcement.
Gracie Lin, CEO of OKX SG, states that partnering with DBS gives customers a “safe and effortless way to manage digital assets.” She also mentions that they are planning on unveiling additional features without providing specific details. According to Evy Theunis, head of digital assets at DBS’ institutional banking group, this partnership broadens DBS’ extensive engagement in the digital asset sector. (Commentary to Reuters)
Two months following OKX obtaining a Major Payment Institution license from Singapore’s Monetary Authority, they introduced a new feature. This license allows OKX to provide crypto and cross-border money transfer services in Singapore. Interestingly, the same month also saw the appointment of Lin, a former official at the Monetary Authority of Singapore, as the CEO of their Singapore branch.
Previously, Lin served on the executive team at Grab, a significant tech firm based in Singapore, leading their regional strategy and economic department. Earlier in her career, she took up different roles at MAS (Monetary Authority of Singapore) and the government-owned investment fund, GIC.
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2024-11-18 11:36