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OKX Singapore Launches Staking Service Targeting Wealthy Investors

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OKX Singapore Launches On-chain Earn for High-Net-Worth Individuals

In a strategic move, OKX Singapore is launching a new service aimed at high-net-worth individuals, designed to streamline the staking process for cryptocurrencies. Named “On-chain Earn,” this offering allows accredited investors in Singapore to directly earn staking rewards from significant proof-of-stake assets such as Ethereum (ETH), Solana (SOL), Aptos (APT), and Sui (SUI).

Commitment to Affluent Clients

The initiative was announced on August 21 and underscores OKX’s commitment to catering to affluent clients who often face challenges with the technical complexities and security risks associated with the multi-faceted world of blockchain. The service aims to provide a compliant and hassle-free experience, ensuring that investments maintain the safety standards akin to those found in traditional finance.

Institutional-Grade Infrastructure

To reflect the high expectations of this particular demographic, known for their reliance on private banking security, the On-chain Earn product is built on institutional-grade infrastructure. This platform boasts certifications such as ISO/IEC 27001:2022 and CSA STAR Level 1, which are recognized worldwide as top-tier standards in information and cloud security.

Enhanced Trustworthiness

Additionally, OKX Singapore has forged alliances with reputable custody providers from the traditional finance sector, enhancing the trustworthiness of its asset protection protocols. These efforts align with the regulations set by the Monetary Authority of Singapore (MAS), which governs the services offered to professional investors in the city.

Eligibility and Onboarding Process

Eligibility for this staking service is restricted to accredited investors—defined by MAS criteria as individuals with an annual income of at least S$300,000 or net assets of S$2 million or more. Those interested in enrolling can do so easily: potential users are able to verify their status through the digital platform Singpass, followed by a required risk assessment on OKX’s interface. This streamlined onboarding process ensures compliance with local regulations while remaining user-friendly.

Strategic Presence in Singapore

The launch of On-chain Earn is a strategic element of OKX’s broader efforts to solidify its presence in Singapore, a burgeoning hub for digital assets. The city is home to a thriving ecosystem that includes 81 exchanges and boasts over 1,600 blockchain patents, as noted in a recent analysis by ApeX Protocol. This recent service introduction complements OKX’s previous initiatives, such as enhancing fiat transaction capabilities with the Singapore dollar, expanding its selection of over 90 local-relevant tokens, and simplifying identity verification through Singpass integration.