OKX, a leading crypto exchange and onchain technology company, now offers Singapore-based customers instant, zero-fee SGD deposits via PayNow and FAST withdrawals through DBS Bank. This enhancement is part of OKX’s commitment to streamlining digital asset accessibility while adhering to regulatory standards.
Key Features
✅ Instant SGD Deposits: Fund your OKX account seamlessly via PayNow.
✅ Zero-Fee FAST Withdrawals: Withdraw SGD to any participating Singaporean bank at no cost.
✅ Singpass Verification: Reduce onboarding time by 90% with Singapore’s national digital identity system.
Simplified Payment Rails
OKX partners with DBS Bank, Southeast Asia’s largest bank, to leverage PayNow and FAST services. Customers can now:
- Deposit SGD 24/7 through PayNow-linked banks.
- Withdraw funds via FAST transfers within minutes.
Gracie Lin, OKX SG CEO, emphasized:
"Our MPI license from MAS underscores our dedication to compliant, user-centric innovation. Collaborating with DBS ensures secure, efficient fiat rails for Singapore’s crypto community."
Regulatory Milestones
In September 2024, OKX SG secured a Major Payment Institution (MPI) License from the Monetary Authority of Singapore (MAS), enabling:
- Digital payment token services.
- Cross-border money transfers.
👉 Explore OKX’s SGD deposit/withdrawal guide
FAQ Section
1. How do I deposit SGD into OKX?
Link your PayNow-supported bank account to OKX and transfer SGD instantly with zero fees.
2. What is the processing time for SGD withdrawals?
FAST withdrawals typically complete within minutes to your designated Singaporean bank account.
3. Is Singpass mandatory for OKX verification?
While optional, Singpass reduces onboarding time from 10 minutes to under 1 minute.
4. Which banks support PayNow for OKX deposits?
All 27 PayNow-participating banks in Singapore, including DBS, UOB, and OCBC.
About OKX
A global blockchain technology leader, OKX provides:
- Crypto Trading: Advanced exchange tools.
- OKX Wallet: Multi-chain decentralized wallet.
- Institutional Services: Tailored solutions for enterprises.
👉 Visit OKX’s official website
Disclaimer: Digital assets carry risks. OKX does not provide investment advice. Consult a financial advisor before trading.
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