According to CoinDesk, Gracie Lin, the newly appointed CEO of OKX Singapore, said that gaining the trust of custodian banks was the most crucial and challenging aspect of obtaining the Monetary Authority of Singapore's (MAS) Major Payment Institution (MPI) license. Lin explained that banks need to be satisfied with the exchange's plans and control measures, which is a key step towards obtaining the full license. Lin also highlighted that investors in the Singapore market tend to hold crypto assets rather than actively trade them. OKX currently lists over 50 tokens in Singapore, all of which have been reviewed and approved by the MAS.