OKX integrates Singapore’s banking systems, boosting local crypto transactions amid surging market interest.
OKX Launches SGD Deposit and Withdrawal Service
OKX announced a new service allowing instant Singapore dollar (SGD) deposits and withdrawals. This marks a significant integration with Singapore’s financial system, facilitated through DBS Group’s PayNow and FAST payment platforms.
DBS Supports OKX’s Digital Expansion
Evy Theunis, head of digital assets at DBS, emphasized the bank’s role in fostering Singapore’s digital asset ecosystem. “Working with OKX deepens the bank’s wide-ranging involvement in this space,” she stated.
Crypto Boom Spurs Interest in Singapore
Interest in cryptocurrencies has surged following Donald Trump’s presidential win. His administration’s crypto-friendly stance has encouraged optimism for the sector. Bitcoin’s value has already exceeded $90,000, with a 30% gain this month.
OKX Gains Approval from Singapore Regulators
OKX’s September approval for a payment license from the Monetary Authority of Singapore (MAS) has positioned it to expand its services. This license allows OKX to provide cross-border digital payment services in one of Asia’s key crypto hubs.
Bridging Crypto with Traditional Finance
OKX’s move to enable SGD transfers underscores the growing synergy between crypto platforms and traditional banks. As Singapore cements its position as a regional crypto hub, such partnerships are likely to set a precedent for innovation and adoption.
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