Securing regulatory recognition in key financial markets is a critical milestone for any digital asset platform committed to long-term growth and compliance. As part of our global expansion strategy, we’re proud to announce that OKX has received in-principle approval for a Major Payment Institution (MPI) License from the Monetary Authority of Singapore (MAS). This achievement underscores our dedication to operating with transparency, security, and responsibility in one of the world’s most forward-thinking fintech ecosystems.
As President of OKX, I’m honored to share this moment with our users, partners, and the broader Web3 community. We’ve long believed that innovation and regulation can coexist—and thrive—together. Our journey in Singapore reflects that belief.
A Trusted Platform Building Globally
OKX stands among the most trusted crypto platforms worldwide, serving millions of users who rely on our technology to access and engage with digital asset markets securely. Our mission extends beyond building powerful tools—we aim to empower individuals with financial freedom through responsible innovation.
A core pillar of our global strategy is identifying high-potential markets, establishing local presence, and making sustainable investments. Singapore has always been a priority due to its dynamic ecosystem, tech-savvy population, and progressive regulatory environment. Over the past few years, we’ve operated in Singapore under the Payment Services (Exemption for Specified Period) Regulations 2019, providing essential services while working closely with regulators.
👉 Discover how OKX is shaping the future of compliant crypto innovation.
Now, with in-principle approval from MAS, we’re poised to deepen our commitment—expanding product access, enhancing user experience, and contributing meaningfully to Singapore’s growing Web3 landscape.
Why Singapore Matters
Singapore is more than a strategic hub—it’s a beacon for innovation in finance and technology. As a regional leader, it attracts entrepreneurs, developers, and investors who are eager to explore new frontiers. The country’s early adoption of digital technologies and supportive infrastructure make it an ideal launchpad for next-generation financial services.
What sets Singapore apart is its clear and well-structured regulatory framework. MAS has consistently demonstrated a balanced approach—protecting consumers while fostering responsible innovation. This clarity allows companies like OKX to plan for the long term, invest confidently, and build products that align with both market needs and compliance standards.
Moreover, Singapore offers access to a world-class talent pool—professionals who combine deep local insights with global expertise. This blend is invaluable as we continue to grow our team and tailor solutions for regional users.
We’re proud to have established one of our global hubs in Singapore—a testament to our long-term vision and belief in the region’s potential.
Delivering Tailored Products for Local Users
With the MPI in-principle approval, our immediate focus will be on expanding spot trading services in Singapore. This foundational offering ensures users can trade digital assets securely and efficiently. But this is just the beginning.
Our local team is actively working to integrate direct banking connections for Singaporean customers—a critical step toward seamless onboarding and withdrawals. By enabling smoother fiat-to-crypto transitions, we aim to reduce friction and improve accessibility for both new and experienced users.
Over time, we plan to introduce a more comprehensive suite of products tailored specifically to the preferences and behaviors of Singapore’s market. Whether it’s advanced trading tools, educational resources, or community-driven initiatives, our goal is to build with the community, not just for it.
👉 See how OKX is enhancing user access through localized financial integration.
Commitment to Community and Ecosystem Growth
Our involvement in Singapore goes beyond compliance and product development. We’re actively investing in the local Web3 ecosystem to support innovation at the grassroots level.
One example is our support for a local incubator that empowers builders and startups to develop cutting-edge blockchain solutions. By nurturing early-stage projects, we help cultivate a vibrant innovation pipeline that benefits the entire industry.
We’ve also been proud main-stage sponsors of Token2049 for two consecutive years—the premier crypto conference hosted in Singapore. This event brings together leaders, developers, investors, and enthusiasts from around the world, reinforcing Singapore’s role as a global Web3 hub.
Additionally, our partnership with the McLaren Formula 1 team has allowed us to celebrate Singapore’s spirit during the Grand Prix weekend. Through co-designed liveries and fan engagement campaigns, we’ve found creative ways to connect with the public and promote the values of speed, precision, and innovation—values shared by both F1 and blockchain technology.
These efforts reflect our broader ambition: to be a responsible, long-term contributor to Singapore’s digital economy.
Core Keywords & Strategic Vision
The keywords defining this journey include:
- in-principle approval
- MAS license
- crypto regulation Singapore
- OKX Singapore
- Major Payment Institution License
- Web3 ecosystem development
- compliant crypto exchange
- digital asset innovation
These terms represent not just search intent but also the foundation of our operational philosophy—where trust, compliance, and user empowerment converge.
Frequently Asked Questions
Q: What does in-principle approval from MAS mean?
A: In-principle approval indicates that OKX has met the initial regulatory requirements set by the Monetary Authority of Singapore for a Major Payment Institution License. It’s a significant step toward full licensing and reflects confidence in our compliance framework.
Q: Can users in Singapore access all OKX products now?
A: Currently, spot trading services are available. We’re working to expand offerings over time, including improved fiat on-ramps via local banking integrations.
Q: Is OKX fully licensed by MAS yet?
A: We have received in-principle approval. Final license issuance will follow upon fulfillment of all conditions set by MAS.
Q: How does this benefit users in Singapore?
A: It means greater regulatory protection, enhanced security standards, localized support, and future access to a wider range of compliant digital asset services.
Q: Will OKX offer fiat deposits in SGD soon?
A: Yes—our team is actively working on integrating local banking options to enable SGD deposits and withdrawals as part of our post-approval rollout.
Q: What is OKX’s long-term plan for Singapore?
A: We’re committed to being a long-term player—investing in talent, supporting local innovation, expanding product offerings, and contributing to policy discussions around responsible Web3 growth.
Looking Ahead: A Future Built on Trust
Receiving in-principle approval from MAS validates our business strategy and strengthens our resolve to operate responsibly within regulated frameworks. If there’s a place where innovation meets thoughtful regulation, Singapore is it.
By combining global resources with local expertise, we aim to bring more transparency, accessibility, and value to users across Southeast Asia and beyond. This isn’t just about launching services—it’s about building lasting impact.
We’re here to stay.
Hong
President, OKX