Cryptocurrency exchange OKX now enables customers to deposit and withdraw Singapore dollars without any fees via PayNow and Fast and Secure Transfers. Crypto exchange OKX said in a press release on Monday, Nov. 18, that it would provide zero-fee Singapore…
Through PayNow and Fast and Secure Transfers, users of the cryptocurrency exchange OKX may now deposit and withdraw Singapore dollars without incurring fees.
On Monday, November 18, the cryptocurrency exchange OKX announced in a press release that it will provide Singapore dollar deposits and withdrawals with no fees via PayNow and Fast and Secure Transfers.
Customers in Singapore may now access the new function, which is made possible by DBS, a major international bank in Singapore, according to the exchange.
planning with DBS gives clients “secure and seamless access to digital assets,” according to OKX SG CEO Gracie Lin. She also stated that the exchange is planning on launching “more features soon” without providing any details. Evy Theunis, head of DBS’s institutional banking group’s digital assets division, told Reuters that the bank’s cooperation with OKX “deepens the bank’s wide-ranging involvement in this space.”
The new function was added two months after OKX obtained a license from the Monetary Authority of Singapore to operate as a Major Payment Institution, allowing it to provide cross-border money transfer and cryptocurrency services in Singapore. Lin, a former employee of the Monetary Authority of Singapore, was also named chief executive of the exchange’s Singapore office in the same month.
Before joining OKX, Lin led the regional strategy and economics team at Grab, a global technology business based in Singapore. She has previously worked in a variety of capacities at MAS and the sovereign wealth fund GIC.