OKX Singapore's New CEO: Custody Arrangements Are the "Most Important and Difficult" Part of the MPI License
Article is form followin
September 19, 2024
This article is translated by ChatGPT Show original
According to CoinDesk, Gracie Lin, the newly appointed CEO of OKX Singapore, stated that gaining the trust of a custodian bank was the most crucial and challenging aspect of obtaining the Monetary Authority of Singapore (MAS) Major Payment Institution (MPI) license.
Lin explained that banks need to be satisfied with the exchange's plans and control measures, making this step crucial for securing a full license. Lin also highlighted that Singaporean investors tend to hold crypto assets rather than actively trading them. Currently, OKX offers over 50 tokens in Singapore, all of which have undergone scrutiny and approval from the MAS.
Source
1. Disclaimer: The views expressed are solely those of the author and do not reflect the stance of Gen3. They are not intended as investment advice.
2. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as investment or other advice.