OKX Singapore's new CEO: The custody arrangement is the "most important and challenging" part of the MPI license

According to ChainCatcher, as reported by CoinDesk, OKX's new CEO in Singapore, Gracie Lin, stated that the most important and challenging aspect of obtaining the Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS) is gaining the trust of the custodian banks.

Lin explained that banks need to be satisfied with the exchange's plans and control measures, and this step is crucial for obtaining the full license. Lin also pointed out that investors in the Singapore market tend to prefer holding crypto assets rather than actively trading. OKX currently offers over 50 tokens in Singapore, all of which must undergo review and approval by MAS.