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The world’s leading Web3 technology company and virtual asset exchange OKX announced today that its Singapore subsidiary “OKX SG PTE. LTD.” has been approved by the Singapore Financial Administration (MAS) to issue a large -scale payment institution license (MPI).
This important milestone lays the foundation of OKX, allowing OKX to provide digital payment tokens and cross -border remittance services in Singapore according to the 2019 Payment Service Act (PS ACT) to build a series of stronger and tailor -made local users for local users.Products and services.
OKX currently provides Singapore users through web pages and iOS or Google Play applications.
OKX President Hong Fang said: “We are striving to build the future with scientific and technological development and the local opportunities provided by multiple markets. Singapore is one of our key markets. We have invested here for a while. MassThe principle approval not only confirms our promise on this market, but also gives us a good opportunity to continue to contribute to the responsible development of the Singapore virtual asset ecosystem.Cognitive and professional knowledge, we intend to make long -term investment and participate, bring our customers who are transparent and contact opportunities, and at the same time, in terms of supervision and innovation, adhering to the industry’s best practice. “
OKX Chief Legal Officer Mauricio Beugelmans said: “Compliance is the core part of our localized construction and centralized financial business strategies. We support the world’s leading regulatory framework for the Singapore Financial Administration to protect consumption by maintaining market integrity and security.Our.
OKX is unremitting to transparency and is one of the earliest companies in the virtual asset industry to issue a monthly reserve certificate report, so as to verify that the user’s assets held by the platform have been fully supported.Users can also use open source verification tools to independently verify their assets to get the support of OKX reserve.Since its launch at the end of 2022, OKX has continuously issued a 16 -month reserve certificate report, and has actively promoted the industry to adopt innovative and continuously improved report standards.
