Tuesday, February 18, 2025

OKX Singapore Launches Instant, Fee-Free SGD Transactions with DBS

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KEY TAKEAWAYS

  • OKX Singapore introduces instant, zero-fee SGD deposits and withdrawals through a partnership with DBS, enhancing digital asset accessibility.
  • The platform emphasizes security and compliance, holding a Major Payment Institution license from the Monetary Authority of Singapore.
  • OKX Singapore integrates Singpass verification for quick customer onboarding, aligning with traditional finance security standards.
  • Future developments focus on improving the trading experience while maintaining a commitment to security and compliance.

OKX Singapore has announced a significant development for its users, introducing instant and free-of-charge SGD deposits and withdrawals. This service is facilitated through a partnership with DBS, one of Singapore’s leading banks. The initiative aims to enhance accessibility to digital assets for users in Singapore.

Gracie Lin, CEO of OKX Singapore, highlighted the importance of this development, stating that the new local payment infrastructure addresses key friction points in the digital asset space. By offering instant, zero-fee SGD transactions via PayNow and FAST, users can now trade on OKX’s platform using familiar and trusted payment methods without the need for multiple currency conversions. More details on the process can be found here.

Security and Compliance at the Forefront

OKX Singapore emphasizes its commitment to security and regulatory compliance. The platform holds a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS), ensuring that all operations adhere to stringent regulatory standards. The integration of local payment rails provides bank-grade security, leveraging Singapore’s established banking infrastructure.

Additionally, OKX Singapore has implemented Singpass verification to streamline customer onboarding, allowing users to complete the process in about a minute. This move aligns with the company’s strategy to combine innovation with the security standards expected from traditional finance.

Future Developments and Vision

Looking ahead, Gracie Lin expressed optimism about the future of OKX in Singapore. The company is focused on enhancing the trading experience and offering new opportunities to the market. Lin emphasized that every new feature is designed with security and compliance in mind, reflecting the company’s commitment to responsible growth.

OKX Singapore’s vision is to build a digital asset platform that caters to local customers, inviting users to experience the improvements firsthand. The company values customer feedback as a crucial component in shaping the platform’s future developments.


Disclaimer: The views expressed in this article are those of the authors and do not necessarily reflect the official policy of CoinsHolder. Content, including that generated with the help of AI, is for informational purposes only and is not intended as legal, financial, or professional advice. Readers should do their research before taking any actions related to the company and carry full responsibility for their decisions.
Neel Kapoor
Neel Kapoor
Neel Kapoor is a dedicated cryptocurrency enthusiast and blockchain expert at Coinsholder.com. With over a decade of experience, Neel offers insightful analysis and commentary on the latest trends and innovations in the crypto space. His clear and concise writing makes complex topics accessible to all readers.

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