Local Payment Rails, Global Vision: The Next Chapter for OKX Singapore

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A message from OKX Singapore CEO Gracie Lin

Today, I'm proud to announce a significant milestone for our customers in Singapore: we’ve launched instant, free-of-charge SGD deposits and withdrawals powered by DBS. As one of the world’s leading digital asset platforms to build this level of local infrastructure, we’re taking a major step toward making crypto more accessible, seamless, and user-friendly for everyone across the country.

This isn’t just a feature upgrade—it’s a foundational shift in how users interact with digital assets locally. By integrating directly with Singapore’s trusted banking rails, we’re removing friction, reducing costs, and accelerating transaction speeds for everyday users.

Why Instant, Zero-Fee SGD Transactions Matter

Having spent years in financial services and technology innovation, I’ve seen how critical infrastructure shapes user experience. Too often, entering the digital asset space involves cumbersome steps: multiple currency conversions, delayed settlements, and hidden fees. These barriers deter mainstream adoption.

Our new local payment integration solves these pain points head-on. Users can now deposit SGD instantly via PayNow and withdraw funds through FAST—both with zero transaction fees. These are the same trusted systems Singaporeans use daily for peer-to-peer payments and bank transfers.

👉 Discover how fast and free crypto transactions can be with the right platform.

This means traders can move money between their bank accounts and the OKX platform in seconds, not hours—enabling faster trades, better market responsiveness, and a smoother overall journey. Whether you're new to crypto or an experienced trader, this upgrade enhances flexibility and control over your financial activity.

For step-by-step guidance on using SGD deposits and withdrawals, visit our support center directly within the app or platform.

Security and Compliance: Built Into Our Foundation

As a licensed Major Payment Institution (MPI) regulated by the Monetary Authority of Singapore (MAS), we treat security and compliance as non-negotiable priorities. Every innovation we introduce must meet rigorous regulatory standards while delivering real value to users.

Our integration with local payment rails leverages Singapore’s bank-grade financial infrastructure—ensuring every transaction benefits from the same high-level protections users expect from traditional banking. All data flows are encrypted, monitored, and audited under MAS guidelines.

Additionally, we’ve enhanced our onboarding process with Singpass verification—a government-backed digital identity solution. This allows users to complete account setup securely in approximately one minute, reducing friction without compromising safety.

This is how we innovate responsibly: by blending cutting-edge technology with the trust and stability of regulated finance.

What’s Next for OKX in Singapore?

This milestone is just the beginning of our long-term commitment to the Singapore market. Our growing local team is already working on the next wave of product enhancements—driven by user feedback and evolving market needs.

Future updates will focus on expanding financial inclusion, improving trading tools, and introducing new ways for users to earn and manage digital assets—all while maintaining our core principles of security, transparency, and regulatory compliance.

We envision a future where digital assets are not just accessible but intuitive for every Singaporean. A platform that doesn’t just follow global trends but anticipates local needs.

Frequently Asked Questions

Q: Are SGD deposits and withdrawals really free?
A: Yes. There are no fees for SGD deposits via PayNow or withdrawals via FAST. This applies to all users on the OKX platform in Singapore.

Q: How fast are transactions processed?
A: Deposits via PayNow are instant. Withdrawals through FAST are typically completed within seconds to a few minutes, depending on your bank.

Q: Is my personal information safe during verification?
A: Absolutely. We use Singpass, a government-secured identity system, to verify identities. No sensitive data is stored beyond what’s required for compliance.

Q: Can I use this service if I’m not based in Singapore?
A: The instant SGD deposit and withdrawal feature is currently available only to users residing in Singapore and verified under local regulations.

Q: Do I need a DBS bank account to use this service?
A: No. While DBS facilitates the rail integration, any Singaporean bank account that supports PayNow (for deposits) and FAST (for withdrawals) can be used.

Expanding Across Europe: A Compliant, Secure Future

Under the leadership of Erald Ghoos, CEO of OKX Europe, we’ve made significant progress in bringing regulated services to key European markets. Through MiCA passporting from our Malta headquarters, OKX has officially launched fully compliant centralized exchanges in France, Spain, Germany, and Poland.

These rollouts reflect our commitment to operating within evolving regulatory frameworks while delivering secure, transparent trading experiences. Each market launch includes localized support, language optimization, and adherence to regional investor protection rules.

👉 See how OKX is building the future of compliant crypto trading across continents.

Industry-Leading Security Recognition

We’re also proud to announce that OKX has achieved ISO/IEC 27001:2022 certification—the global benchmark for information security management systems (ISMS). This certification validates that our internal processes, technical safeguards, and organizational controls meet the highest international standards for protecting user data and digital assets.

From encryption protocols to employee access controls and incident response planning, every aspect of our security framework has undergone rigorous third-party audit. This isn’t just about compliance—it’s about earning trust through verifiable excellence.

Introducing OKX Pay: A New Era in Crypto Payments

From OKX CEO Star Xu:

We’re launching version one of OKX Pay, a first-of-its-kind crypto payment solution embedded directly within the OKX app. Designed for over 100 million global users, OKX Pay enables seamless peer-to-peer transactions using digital assets—starting in select markets with broader rollout planned in the coming months.

This isn’t just another wallet feature. It’s a step toward mainstream crypto usability—where paying friends or merchants feels as natural as sending a text message.

Entering the U.S. Market with Purpose

Roshan Robert, CEO of OKX US:

The blockchain ecosystem stands at a pivotal moment—increasingly integrated with traditional finance and capital markets. I’m honored to lead OKX’s expansion into the United States, where innovation in Web3 and digital assets continues to accelerate.

Our mission is clear: bring secure, transparent, and compliant access to digital assets for American users who value choice, performance, and trust.

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