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Crypto exchange Gemini has received in-principle approval (IPA) from the Monetary Authority of Singapore (MAS) for a Major PaymentInstitution (MPI) license. This approval allows Gemini to provide cross-border money transfer and digital payment token services in Singapore.
Licensed as a Major PaymentInstitution (MPI) by the Monetary Authority of Singapore (MAS), OPAL offers domestic and cross-borderpayments, payment accounts, and e-money services. OPAL, a neobank startup, has been steadily growing in the financial hub of Singapore since its inception in 2019.
In a recent interview, Rohit Narang, Vice President for the Asia-Pacific region at Visa Cross-Border Solutions, powered by Currencycloud, shared insights into the acquisition of Currencycloud by Visa, shedding light on the evolution of their collaboration and the impact it has had on global money movement.
With a highly skilled international workforce, long-established support for innovation and a well-developed reputation as a global finance hub, cross-borderpayments in Singapore have the makings of a global hub. These figures emphasize the high focus on cross-borderpayments in the domestic payment market.
By partnering with Finmo, Tribe Payments will combine its issuer and acquirer processing platform with Finmos treasury and financial management system, which is licensed to move and manage money across 180 countries. Finmo holds a Major PaymentInstitution (MPI) licence from the Singaporean authorities.
Currencycloud, a Visa solution, is granted preliminary approval for a major payment licence from the Monetary Authority of Singapore (MAS). Rohit Narang , managing director of APAC, Currencycloud said: “The IPA for a Major PaymentInstitution Licence is testament to the strength of the Currencycloud brand.
Canadian payments firm Nuvei Corporation has secured a Major PaymentInstitution (MPI) license from the Monetary Authority of Singapore. The company that it will continue to invest in building its presence across APAC.
XTransfer , China’s top B2B cross-border trade payment platform, and EBANX , the leading payment platform connecting global companies with customers in Latin America, Africa, and Asia, announced a strategic partnership aimed at streamlining B2B trade payments in Latin America.
Singapore-headquartered paymentinstitution FOMO Pay has partnered with global financial services provider BNY to enhance USD payment services for corporate clients. This announcement recognises FOMO Pay’s dedication to fostering financial inclusion and growth across the APAC region and beyond.”
Currencycloud, a provider of B2B embedded cross-border solutions, has received in-principle approval for a Major PaymentInstitution (MPI) license from the Monetary Authority of Singapore (MAS). The company plans to launch new services in the coming months, further streamlining international money transfer offerings.
Currencycloud was offered In-Principle Approval to serve as a Major PaymentInstitution license holder in Singapore. “Having the license would allow us to integrate with the robust financial network in Singapore and collaborate with valuable industry players,” said the company’s Managing Director of APAC Rohit Narang.
Leading payment technology firm, Tribe Payments , has announced a strategic partnership with global Treasury Operating System (TOS), Finmo , to deliver integrated, end-to-end payment and treasury services to banking and fintech clients across key growth markets – notably Asia -Pacific (APAC) and Europe.
Nuvei Corporation (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, today announces that its Singapore entity, Nuvei Singapore Pte Ltd, has been granted a Major PaymentInstitution (MPI) license by the Monetary Authority of Singapore. billion Mastercard debit, credit and prepaid cards globally.
Unlocking Global Cross-BorderPayment Flows Stablecoins like XSGD are rapidly emerging as the preferred solution for on-chain cross-borderpayments, providing a secure and efficient alternative to traditional financial systems.
“At Ebury, we embrace the complexity and risk of daily cross-borderpayments that enable business growth, in a way that traditional banks do not, or cannot,” Ebury Managing Director for APAC, Rick Roache said. Romania’s national mobile payment system, RoPay, went live this week.
Worldline (Euronext: WLN), a global leader in payment services, announces its wholly owned subsidiary, GCS APAC, has been granted Major PaymentInstitution license by the Monetary Authority of Singapore (MAS). In India, Worldline has 1.5 million+ merchant touchpoints across 5000+ towns and cities.
TerraPay , a global money movement company, has been granted a Major PaymentInstitution (MPI) License under the Payment Services Act 2019 by the Monetary Authority of Singapore (MAS) —a significant milestone solidifying TerraPay’s position as a cross-borderpayments powerhouse.
China’s B2B cross-border trade payment platform, XTransfer , is strategically partnering with EBANX , the payment platform connecting global companies with customers in Latin America, Africa, and Asia, to streamline B2B trade payments in Latin America (LatAm).
Currencycloud , a Visa solution and the experts in simplifying business in a multi-currency world, has obtained an In-Principle Approval (IPA) for a Major PaymentInstitution (MPI) licence holder from the Monetary Authority of Singapore (MAS).
trillion in cross-borderpayments, the APAC region is poised to benefit significantly from the surge in cross-border money movement. Clearly, the Asia Pacific region’s remitters, banks, and fintechs have the motivation to address these persistent challenges in cross-border money movement.
APAC has solidified its position as the leader in global real-time payments, processing nearly 70% of the worlds 266 billion transactions in 2023. What makes APAC unique is its blend of diverse regulatory frameworks and a multitude of exotic currencies, creating a dynamic payments environment. in APAC and 44% globally.
EBANX, a global payment service provider specializing in emerging markets, has received in-principle approval for a Major PaymentInstitution (MPI) license from the Monetary Authority of Singapore (MAS). This license will allow EBANX to offer cross-border money transfers and merchant acquisition services in Singapore.
EBANX , a leading global Payment Service Provider (PSP) specializing in emerging markets, today announced that EBANX Pte. has been granted In-Principle Approval for a Major PaymentInstitution (MPI) license from the Monetary Authority of Singapore (MAS).
With their exceptional founding team and strong financial discipline, we believe Finmo is well-positioned to redefine how businesses manage payments, liquidity and risk, and we are excited to support their vision to revolutionize treasury management and cross-borderpayments for businesses across APAC and beyond.”
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