Cryptocurrency trade OKX now allows prospects to deposit and withdraw Singapore {dollars} with none charges through PayNow and Quick and Safe Transfers.
Crypto trade OKX stated in a press release on Monday, Nov. 18, that it could present zero-fee Singapore greenback deposits and withdrawals by way of PayNow and Quick and Safe Transfers cost providers.
The brand new function, accessible for purchasers in Singapore, is facilitated by DBS, a Singaporean multinational banking large, the trade stated.
OKX SG chief govt Gracie Lin says working with DBS offers prospects with “safe and seamless entry to digital belongings,” including that the trade is engaged on introducing “extra options quickly” with out elaboration on the matter. In a commentary to Reuters, DBS’ head of digital belongings, institutional banking group Evy Theunis stated collaboration with OKX “deepens the financial institution’s wide-ranging involvement on this house.”
The brand new function comes two months after OKX secured a Main Cost Establishment license from the Financial Authority of Singapore, enabling it to supply crypto and cross-border cash switch providers in Singapore. That very same month the trade additionally appointed Lin, a former official on the Financial Authority of Singapore, because the chief govt of its Singapore department.
Previous to OKX, Lin was a part of the administration crew at Seize, a Singaporean multinational expertise firm, heading the regional technique & economics crew. Earlier than that, she held varied positions at MAS and the sovereign wealth fund GIC.