Crypto exchange OKX has appointed Gracie Lin, a former official at the Monetary Authority of Singapore, as the chief executive of its Singapore branch.

The OKX cryptocurrency exchange has onboarded Gracie Lin as the new chief executive of its Singapore branch, OKX SG, while the trading platform secured a major payment institution license to offer its services in the region.

In a Sept. 2 press release, OKX said the license allows it to offer crypto and cross-border money transfer services, including spot trading of cryptocurrencies for customers in Singapore. As CEO, Lin will oversee the company’s “strategic initiatives, including the development of permitted digital payment token products and services designed to meet the needs of Singapore customers,” the press release reads.

“Singapore is a world-class digital asset hub and an important market for OKX. I am excited to be part of the team building our presence here.”

Gracie Lin, OKX CEO

Prior to OKX, Lin was part of the management team at Grab, a Singaporean multinational technology company, heading the regional strategy & economics team. Before that, she held various positions at MAS and the sovereign wealth fund GIC.

Regarding the MPI license, Lin stated that OKX is now “more committed than ever” to expanding access to digital assets and contributing to the local community and ecosystem. OKX’s ambitions extend beyond Singapore. In early August, the crypto exchange applied to be listed with Turkey’s Capital Markets Board, signaling its intent to expand services in the country.