Crypto exchange OKX has named former regulator Gracie Lin as CEO of its Singapore business, according to a Sept 2 announcement.
Lin previously held positions at the Monetary Authority of Singapore (MAS), Grab and GIC.
Lin was at MAS between 2005 and 2015, where she reached the post of deputy director, head of money markets. At GIC, Lin served as vice-president of business management for a year until 2018.
Lin joined Grab in July 2018 as director, head of economics. According to her LinkedIn page, Lin left Grab in March as managing director, strategy and economics.
OKX’s Singapore unit, OKX SG, received in-principle approval for a Major Payment Institution (MPI) licence from MAS in March. Along with Lin’s appointment, the local unit also announced that it has received the MPI licence.
The MPI licence allows OKX SG to offer digital payment token and cross-border money transfer services, including spot trading of cryptocurrencies for customers in Singapore.
See also: OKX receives in-principle approval from MAS, awaits awarding of full licence
In a blog post on OKX’s site, Lin says: “Born and raised here, I've always looked for ways to make a difference in Singapore. I've been fortunate to have had opportunities to do so in my previous roles at MAS, GIC and Grab. I believe OKX SG is the perfect launchpad to contribute on an even greater scale.”
She adds: “I've taken on this challenge because I believe that crypto represents the next frontier of innovation, and Singapore plays a significant role in adoption. I'm confident that we're well-placed to connect Singapore customers with the onchain world in a secure and seamless way.”
Founded by Star Xu back in 2017, OKX claims to be the world's second-largest crypto exchange by trading volume, serving more than 50 million users worldwide. OKX is owned by Ok Group, which also owns crypto exchange Okcoin.
