Unlocking Success: Gracie Lin Reveals OKX SG’s Secret to Thriving in Crypto

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Recenty, BeInCrypto was granted a private conversation with Gracie Lin, the head of OKX Singapore (OKX SG), to delve into the company’s significant accomplishments from 2024 and their planned strategic moves for 2025.

During this conversation, Lin took time to ponder over an influential year for the cryptocurrency sector, the surge in institutional involvement, and progress made in regulatory matters across significant locations, such as Singapore.

BeInCrypto: Why do you believe OKX Singapore experienced substantial growth in platform assets and trading volume following the acquisition of its license? Could you identify any particular market trends or customer habits in Singapore that may have played a role in this success?

Gracie Lin: Regardless of the location, individuals universally seek a user-friendly, straightforward platform offering tailored products. It’s no exception for users in Singapore, thus our primary goal has been to construct such a platform specifically for their needs.

Our Singapore user community encompasses seasoned cryptocurrency investors along with newcomers venturing into the digital asset realm. To accommodate both groups effectively, we’ve crafted our product lineup thoughtfully. This means providing straightforward conversion options alongside spot trading, allowing users to select according to their favored trading approach.

In unison, all segments in Singapore share similarities. For instance, PayNow, a daily-used instant money transfer service for settling bills or sending money to loved ones post-dinner, is ubiquitous and known by all. Leveraging this familiarity, we prioritized collaborating with DBS, Singapore’s largest bank, to facilitate PayNow deposits.

In this context, trust and safety are paramount, and rightly so. To alleviate any concerns, we hold a MAS (Monetary Authority of Singapore) license and offer Proof of Reserves, ensuring transparency and security for our users.

It’s clear that our collective efforts in every aspect have significantly increased the value of assets held on this platform, nearly tripling them within a relatively brief span.

Our journey has just started, and it will extend as deep as our knowledge of the local community allows. To ensure we’re providing top-notch service to our clients, I plan to immerse myself in the community as much as I can this year, soaking up insights about how we can best cater to their needs.

As a newcomer to the world of cryptocurrency, I can’t help but notice the recent advancements made by OKX Singapore. The introduction of instant SGD deposits via DBS and SingPass verification has truly revolutionized my experience as a first-time investor. These innovations have significantly enhanced the accessibility of crypto, making it easier for people like me to dive into this exciting digital economy without facing unnecessary barriers or complications.

Gracie Lin: It appears that the features tailored to specific locations have been favorably received by new investors, as they appreciate a sense of familiarity. In fact, over half of our authenticated users deposit funds within just two weeks of joining, indicating robust user involvement and boosting the growth of assets on our platform. However, the crypto market is all about recent accomplishments, so we’re already busy making improvements to better suit our customers’ evolving needs as expressed by them.

Cryptocurrency Insights: The introduction of SGD trading pairs and 31 extra tokens has broadened investment choices for investors. What steps does OKX take to make sure that these new options cater to the increasing demands of both individual and institutional investors?

Gracie Lin: We aim to provide traders with a continuous stream of various trading options by regularly adding new tokens. Simultaneously, we strive to make it simple and affordable for individuals to trade their Singapore Dollars (SGD) against USDT, USDC, and eventually other cryptocurrencies like Bitcoin (BTC). In the future, our focus will be on continuously broadening the choices available for traders in terms of tokens and trading pairs.

In light of Singapore’s growing status as a global cryptocurrency center, what role do you anticipate OKX playing within its ecosystem, specifically with regards to promoting trust and adhering to regulations?

At OKX Singapore, we strive to function as active contributors and advocates within this ecosystem. Primarily, we aim to uphold our duties as a responsible corporation and ambassadors for the industry by fulfilling and surpassing our obligations regarding compliance and regulations.

Next, we aim to contribute by fostering alliances between the crypto sector and traditional local establishments, taking advantage of their unique strengths. This is being achieved by forging banking relationships, engaging with local crypto enthusiasts, and we plan to persist in this approach over an extended period.

In my opinion, by emphasizing transparency and security alongside this method, we can foster the trust essential for broader acceptance within Singapore.

Question: You’ve emphasized the importance of education and involvement in the local community for the year 2025. Can you elaborate on OKX’s strategies to equip Singaporeans with comprehensive cryptocurrency know-how?

Gracie Lin: Our aim is to foster a knowledgeable cryptocurrency community in Singapore. We hope to achieve this by focusing our community efforts on education, offering chances for hands-on learning, fostering meaningful discussions between builders, and nurturing emerging talents.

One instance is the “Construct with OKX” gathering we held in Singapore, which united a broader chain community – comprising developers, entrepreneurs, and craftspeople – for meaningful knowledge exchange. The event showcased technical workshops such as the OKX OS developer workshop, along with panel discussions involving industry experts from firms like StraitsX, LayerZero, and Monad.

In 2025, we plan to increase our efforts and actively foster an environment that positions Singapore as a hub for blockchain expertise. Our schedule is packed with events catering to blockchain communities, enthusiasts, and educational establishments, all aimed at boosting understanding of the latest advancements in blockchain technology and its applications.

BeInCrypto: How is OKX Singapore adapting as the cryptocurrency sector grows to outperform its competitors and remain robust in the face of regulatory and market hurdles?

Gracie Lin: Ensuring regulatory compliance is crucial for our long-term success and growth, and we plan to allocate significant resources towards it moving forward.

1) In addition, we plan to fortify our competitive edge by strategically aligning ourselves with Singapore’s robust financial framework. As we diligently work towards earning the trust of our user base over time, we are committed to fostering genuine connections within our community through educational programs and workshops. By doing so, we aim to stay attuned to the dynamic demands of the market as well.

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2025-01-17 17:31