ChainCatcher reported that according to CoinDesk, OKX Singapore's new CEO Gracie Lin said that the most important and challenging step in obtaining the Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS) is to gain the trust of the custodian bank.
Lin explained that banks need to be satisfied with the exchange's plans and controls, which 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 them. OKX currently has more than 50 tokens listed in Singapore, all of which are subject to review and approval by MAS.
