OKX Secures MPI License in Singapore

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The global expansion of leading cryptocurrency exchange OKX continues to gain momentum, with the company recently securing a Major Payment Institution (MPI) license under Singapore’s Payment Services Act. This regulatory milestone solidifies OKX’s long-term commitment to compliance and trust in one of Asia’s most sophisticated fintech markets.

Singapore has long been recognized as a hub for innovation in digital finance, with the Monetary Authority of Singapore (MAS) setting high standards for licensing and operational integrity. The MPI license allows OKX to legally offer a broad range of digital payment token services, including crypto trading, custody, and fund transfers, while adhering to strict anti-money laundering (AML) and consumer protection regulations.

This development follows closely on the heels of OKX’s strategic expansion into Australia earlier this year—marking a clear focus on strengthening its presence across key Asia-Pacific markets.

Strategic Expansion into Australia

In May, OKX officially launched its cryptocurrency exchange services in Australia, offering both spot trading for all user types—retail and institutional—and derivatives trading exclusively for verified wholesale clients.

Australian users now benefit from seamless access to crypto markets through direct AUD deposits and withdrawals. These transactions are supported by integrations with most local banks, enabling fast processing times and greater financial inclusivity. In addition to standard spot trading, users can leverage multiple on-ramp options such as express buy/sell features, peer-to-peer (P2P) trading, and instant conversion tools.

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For those preferring third-party gateways, OKX supports purchases via trusted platforms like Simplex, MoonPay, and Banxa—providing flexibility without compromising security or user experience.

The Australian launch was preceded by the establishment of a physical office in Sydney in May 2023. Since then, OKX has assembled a dedicated team specializing in management, legal affairs, compliance, and regulatory engagement—demonstrating a deep commitment to operating within local frameworks.

Although an official launch was initially targeted for late 2023, regulatory diligence and operational readiness led to a brief delay. However, this pause ensured full alignment with Australian financial regulations, particularly those enforced by the Australian Securities and Investments Commission (ASIC) and the Australian Transaction Reports and Analysis Centre (AUSTRAC).

Comprehensive Product Offerings Down Under

OKX’s Australian platform currently supports 170 spot trading pairs and 85 major tokens, including flagship assets such as:

All spot and over-the-counter (OTC) trading activities are conducted through OKX Australia Pty Ltd., a locally incorporated entity registered with AUSTRAC. This structure ensures transparency and accountability in line with national counter-terrorism financing and AML requirements.

Meanwhile, access to advanced financial instruments—including futures, options, and perpetual swaps—is restricted to verified wholesale clients who meet the criteria defined under the Corporations Act 2001 (Cth). These services are provided via OKX Australia Financial Pty Ltd., a subsidiary holding an Australian Financial Services (AFS) license regulated by ASIC.

This dual-entity model reflects OKX’s adherence to risk-based client segmentation and regulatory best practices—balancing innovation with investor protection.

Enhancing Liquidity with AUD Order Books

A significant upgrade rolled out last month was the introduction of Australian dollar (AUD)-based trading order books. This enhancement enables Australian residents to trade major cryptocurrencies—including BTC, ETH, USDT, and USDC—directly against AUD.

By implementing order book-based pricing rather than fixed-rate conversions, OKX delivers more transparent pricing, tighter spreads, and improved market depth. This move positions OKX as the largest global exchange to offer true order book-driven AUD spot pairs—elevating the trading experience beyond what many domestic platforms currently provide.

Such infrastructure strengthens liquidity pools and reduces slippage, especially during periods of high volatility—a critical advantage for active traders and institutional participants alike.

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Frequently Asked Questions

What does the MPI license in Singapore allow OKX to do?

The Major Payment Institution (MPI) license permits OKX to offer regulated digital payment token services in Singapore, including cryptocurrency trading, custody solutions, and fund transfer services—all under the oversight of the Monetary Authority of Singapore (MAS).

Can retail investors in Australia trade derivatives on OKX?

No. Derivatives trading—including futures, options, and perpetual swaps—is only available to verified wholesale clients who meet the eligibility criteria outlined in Australia’s Corporations Act 2001. Retail users can access spot trading and P2P markets.

Is OKX safe for Australian users?

Yes. OKX operates through two locally registered entities: OKX Australia Pty Ltd. (AUSTRAC-registered) and OKX Australia Financial Pty Ltd. (ASIC-licensed). These registrations ensure compliance with national financial regulations, robust AML controls, and enhanced fund security protocols.

How can I deposit AUD into my OKX account?

You can deposit AUD directly via bank transfer through integrated Australian banking partners. Additionally, you can use third-party providers like Simplex, MoonPay, or Banxa to purchase crypto using credit/debit cards or other payment methods.

Does OKX offer OTC trading in Australia?

Yes. Over-the-counter (OTC) spot trading services are available to all users in Australia through OKX’s local entity, facilitating large-volume trades with minimal market impact.

Why did OKX delay its Australian launch?

While initially planned for late 2023, the launch was delayed to ensure complete regulatory compliance and operational readiness. This allowed OKX to establish proper legal structures, hire local experts, and align with both ASIC and AUSTRAC requirements before going live.

Building Trust Through Compliance

OKX’s recent achievements—securing the MPI license in Singapore and launching compliant services in Australia—underscore a broader industry shift toward regulation-first strategies. As governments worldwide tighten oversight on digital assets, exchanges that prioritize licensing, transparency, and local engagement will lead the next phase of crypto adoption.

With robust infrastructure, diversified fiat on-ramps, and advanced trading tools now accessible in key APAC markets, OKX is positioning itself not just as a global exchange—but as a trusted financial gateway for the future of decentralized economies.

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