TechFlow News — On November 18, OKX announced the launch of zero-fee SGD deposit and withdrawal services for Singapore users via PayNow and FAST payment systems. The service is powered by DBS Bank, Southeast Asia's largest custodial bank.
OKX Singapore has obtained a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS), enabling it to offer digital payment token and cross-border remittance services. With the new feature live, OKX users who hold accounts at any of the 27 PayNow-supported banks and financial institutions in Singapore can now access this instant deposit and withdrawal service.
In addition, OKX Singapore has introduced Singpass identity verification, reducing user account opening time to under one minute and improving operational efficiency by 90%.
