OKX Singapore’s new CEO: Custody arrangements are the “most important and difficult” part of the MPI license

PANews reported on September 19 that according to CoinDesk, OKX Singapore's new CEO Gracie Lin said that the most important and challenging part of obtaining the Singapore Monetary Authority's (MAS) Major Payment Institution (MPI) license is to gain the trust of the custodian bank. Lin explained that banks need to be satisfied with the exchange's plans and control measures, and this step is key to obtaining a full license. Lin also pointed out that investors in the Singapore market tend to hold crypto assets rather than actively trade. OKX currently has more than 50 tokens listed in Singapore, all of which are subject to review and approval by MAS.