Fintech News

OCTOBER 29, 2024

Crypto exchange Gemini has received in-principle approval (IPA) from the Monetary Authority of Singapore (MAS) for a Major Payment Institution (MPI) license. This approval allows Gemini to provide cross-border money transfer and digital payment token services in Singapore.

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APACS Cross-Border Regulatory Compliance Payments 122

The Fintech Times

JANUARY 8, 2025

The Monetary Authority of Singapore (MAS) has grantedChina-based B2B cross-border trade payment platform, XTransfer , a Major Payment Institution (MPI) licence, enabling it to provide a range of money transfer services in the region.

Cross-Border Payments 59

Cross-Border Payments Cross-Border Payment Solutions Security 59

Fintech News

NOVEMBER 4, 2024

Razer Gold has received in-principle approval from the Monetary Authority of Singapore (MAS) for a Major Payment Institution license. This development marks a major step for the gaming-focused virtual credit platform as it prepares to expand its payment services in Singapore.

Cross-Border 113

Cross-Border Payments Payments Institute On-Demand 113

Fintech News

NOVEMBER 18, 2024

These changes come after OKX secured a Major Payment Institution license from the Monetary Authority of Singapore in September. The license enables OKX to provide digital payment token and cross-border money transfer services within the country.

Cross-Border 117

Cross-Border Verification Payments Institute Participant 117

Fintech News

JANUARY 12, 2025

Reap, a Hong Kong-based payment technology provider, has received in-principle approval for a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). Reap intends to allocate necessary resources to support its Singapore operations and strengthen compliance standards.

Cross-Border 109

Cross-Border Payments Compliance Payments Institute 109

The Fintech Times

JANUARY 10, 2025

dLocal , a payment platform connecting merchants to emerging markets born out of Uruguay, has secured the UK Authorised Payment Institution (API) licence from the Financial Conduct Authority (FCA). With the licence, dLocal can now offer a comprehensive suite of regulated payment solutions to UK-based merchants.

Payments Institute 59

Payments Institute Security Alternative Payment Methods Cross-Border Payments 59

Fintech News

FEBRUARY 19, 2024

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.

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Cross-Border Cross-Border Payments Multi-Currency Payment APIs and Integration 117

Fintech News

JUNE 11, 2024

Licensed as a Major Payment Institution (MPI) by the Monetary Authority of Singapore (MAS), OPAL offers domestic and cross-border payments, 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.

Cross-Border Payments 117

Cross-Border Payments Cross-Border Payment APIs and Integration Payments 117

The Payments Association

MARCH 19, 2024

TerraPay, a company specialising in global cross-border payments, has recently been granted a Major Payment Institution (MPI) License by the Monetary Authority of Singapore (MAS). This development is part of […] Read more

Payments Institute 88

Payments Institute Authorization Cross-Border Payments Cross-Border 88

Fintech News

MARCH 23, 2025

BC Payments, a Singapore-based subsidiary of Luxembourg-licensed bank Banking Circle , has received in-principle approval (IPA) from the Monetary Authority of Singapore (MAS) for a Major Payment Institution (MPI) license.

Cross-Border Payments 75

Cross-Border Payments Cross-Border Multi-Currency Payments 75

Fintech News

DECEMBER 9, 2024

M-DAQ Global, a fintech specialising in cross-border foreign exchange (FX) and payment solutions, has been awarded a Capital Markets Services (CMS) licence by the Monetary Authority of Singapore (MAS). This licence allows its subsidiary, M-DAQ Market Solutions, to deal in over-the-counter (OTC) derivatives contracts.

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B2C Cross-Border Settlement B2B 111

Fintech News

JUNE 1, 2025

StraitsX reports having processed over US$10 billion in on-chain stablecoin transactions and operates under a Major Payment Institution licence issued by the Monetary Authority of Singapore (MAS), covering six out of seven regulated payment services.

Settlement 71

Settlement Stablecoins Cross-Border Payment Gateways 71

Finextra

APRIL 23, 2024

Singapore-based fintech startup Qashier announced today that the company has been awarded in-principle approval by the Monetary Authority of Singapore (MAS) for a major payment institution (MPI) licence to offer merchant acquisition services, and domestic and cross-border money transfer services.

Payments Institute 99

Payments Institute Cross-Border Authorization Payments 99

Fintech News

MARCH 12, 2024

has been accorded in-principle approval for a Major Payment Institution License by the Monetary Authority of Singapore (MAS). This approval will permit OKX to engage in the provision of digital payment token (DPT) and cross-border money transfer services in Singapore, in compliance with the Payment Services Act 2019.

Cross-Border 117

Cross-Border Regulatory Compliance Best Practices Cryptocurrency 117

The Fintech Times

MARCH 6, 2024

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 Payment Institution Licence is testament to the strength of the Currencycloud brand.

Cross-Border Payments 97

Cross-Border Payments Cross-Border Facilitators Multi-Currency 97

Fintech News

MARCH 18, 2025

The Monetary Authority of Singapore (MAS) has granted FlexM , a global fintech conglomerate, a Major Payment Institution (MPI) license. This license extends FlexM’s regulated financial services, enabling the company to offer cross-border money transfer services to its customers in Singapore.

Cross-Border 71

Cross-Border Regulatory Compliance Financial Inclusion Payments 71

The Fintech Times

FEBRUARY 8, 2025

Tuma Ventures Limited, the payments company regulated by the Financial Conduct Authority (FCA), has now secured approval as a licensed Payment System Provider (PSP) from the Bank of Tanzania. It says these solutions aim to advance financial inclusion and foster economic development.

Security 59

Security Cross-Border Financial Inclusion Cross-Border Payments 59

The Payments Association

OCTOBER 23, 2024

On 25 September 2024, the UK Financial Conduct Authority (FCA) published its long-awaited Consultation Paper (CP24/20) setting out proposed changes to the safeguarding rules applicable to electronic money institutions (EMIs) and payment institutions (PIs) (together, payments firms).

Rules 88

Rules Payments Institute Authorization Reconciliation 88

Fintech News

JULY 15, 2024

XTransfer, a Chinese B2B cross-border trade payment platform, has received in-principle approval from the Monetary Authority of Singapore (MAS) for a Major Payment Institution (MPI) license. Bill Deng “This approval marks a pivotal moment for us to strengthen our presence in Singapore and the region.

Cross-Border 109

Cross-Border Payments Payment Solutions Payments Institute 109

Fintech Finance

AUGUST 12, 2024

Nium , the global leader in real-time cross-border payments, is strengthening its presence in Latin America by applying for essential licenses, joining key fintech associations, expanding its employee presence, and signing new customers. Nium has been present in the region dating back to 2017.

Real Time Payments 98

Real Time Payments Cross-Border Payments Cross-Border Central Bank 98

Fintech News

JUNE 4, 2024

HitPay, a Singapore-based commerce platform for SMEs, has secured a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). The license will enable HitPay to provide merchant acquisition and domestic and cross-border money transfer services, opening cross-border opportunities for SMEs.

SDN 113

SDN Security Cross-Border Payments 113

Fintech News

MARCH 5, 2024

Currencycloud, a provider of B2B embedded cross-border solutions, has received in-principle approval for a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS).

Cross-Border 109

Cross-Border Cross-Border Payments APACS Payments Institute 109

Fintech News

MAY 12, 2024

XREX Singapore, a blockchain-enabled financial institution specialising in cross-border payments, has been granted a Major Payment Institution (MPI) license by the Monetary Authority of Singapore (MAS).

Cross-Border 113

Cross-Border Cross-Border Payments Travel Rule Regulatory Compliance 113

Fintech News

AUGUST 12, 2024

Global payments company Nium is enhancing its presence in Latin America, with a focus on expanding its operations in Brazil. The company has recently applied for a Payment Institution License in Brazil, which will allow it to offer payment services, including managing funds in BRL and facilitating real-time payments through the Pix system.

Cross-Border 109

Cross-Border Cross-Border Payments Correspondent Bank Real Time Payments 109

Fintech News

APRIL 7, 2024

Payments infrastructure company TerraPay has been awarded a Major Payment Institution (MPI) License by the Monetary Authority of Singapore (MAS). With this new license, TerraPay now has 11 licenses and 19 approvals across 30 international markets.

Cross-Border Payments 109

Cross-Border Payments Cross-Border Payments Authorization 109

Fintech News

DECEMBER 13, 2023

Singaporean payment institution FOMO Pay and United Arab Emirates’ digital bank Zand have partnered to improve cross-border payment efficiency between Asia and the Middle East and North Africa (MENA) region. The company said that it is focused on building financial connections between Asia and global markets.

Cross-Border Payments 130

Cross-Border Payments Cross-Border Central Bank Gateways 130

Fintech News

APRIL 22, 2024

Singapore-based fintech startup Qashier has received in-principle approval from the Monetary Authority of Singapore (MAS) for a Major Payment Institution (MPI) license. This approval positions Qashier to provide merchant acquisition services along with domestic and cross-border money transfer capabilities.

Cross-Border 109

Cross-Border Cross-Border Payments Payments Payments Institute 109

Fintech News

APRIL 10, 2024

Canadian payments firm Nuvei Corporation has secured a Major Payment Institution (MPI) license from the Monetary Authority of Singapore. It follows the company’s introduction of direct card acquiring capabilities in Australia and its ongoing expansion in China.

Cross-Border 117

Cross-Border Security APACS Alternative Payment Methods 117

PYMNTS

JANUARY 19, 2017

Geoswift, a provider of cross-border payment solutions between China and the rest of the world, announced Wednesday (Jan. unit, Geoswift UK, has received authorization as a payment institution from the Financial Conduct Authority (FCA). 18) that its U.K. and China.”.

Payments Institute 40

Payments Institute Authorization Cross-Border Cross-Border Payments 40

The Payments Association

JANUARY 13, 2025

The Financial Conduct Authority (FCA) recently outlined significant changes to the safeguarding regime for payments and e-money firms in its consultation paper CP24/20. This inflexibility could hinder their ability to offer competitive, innovative solutions, such as multi-currency wallets or cross-border payment services.

Compliance 88

Compliance Audit Legal Reconciliation 88

Fintech News

FEBRUARY 25, 2024

HitPay, a provider of commerce infrastructure for small businesses, has received in-principle approval from the Monetary Authority of Singapore (MAS) for a Major Payment Institution (MPI) License. The attainment of the MPI license will enable HitPay to introduce new services aimed at simplifying payment processing for merchants.

Cross-Border 109

Cross-Border Small Business Payments Payments Institute 109

Fintech News

AUGUST 28, 2024

FlexM, a fintech company known for its Fintech-as-a-Service (FaaS) platform, has received in-principle approval for a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). This development follows FlexM’s recent approval of a Payment Service Provider license from FINTRAC in Canada.

Cross-Border 108

Cross-Border Regulatory Compliance Payments Payments Institute 108

Fintech News

JUNE 23, 2024

While DPT activities in Singapore constitute a small portion of global activities, authorities have noted a rise in reported cases and various ways these tokens can be exploited. Consequently, Singapore is closely monitoring the sector.

Money Laundering 109

Money Laundering Risk Crime Law Enforcement 109

Fintech News

JULY 16, 2024

StraitsX, a digital asset payments infrastructure provider in Southeast Asia, has received Major Payment Institution (MPI) licenses from the Monetary Authority of Singapore (MAS). and StraitsX Payment Services Pte. These licenses enable StraitsX to provide various digital payment token services.

Stablecoins 113

Stablecoins Security Cross-Border Settlement 113

Fintech Finance

APRIL 24, 2024

Singapore-based fintech startup Qashier announced today that the company has been awarded in-principle approval by the Monetary Authority of Singapore (MAS) for a major payment institution licence to offer merchant acquisition services, and domestic and cross-border money transfer services.

Payments Institute 52

Payments Institute Cross-Border Cross-Border Payments Payments 52

Finovate

MARCH 7, 2024

Currencycloud was offered In-Principle Approval to serve as a Major Payment Institution license holder in Singapore. “The IPA for a Major Payment Institution License is testament to the strength of the Currencycloud brand,” said Currencycloud Managing Director of APAC Rohit Narang.

Multi-Currency 97

Multi-Currency Cross-Border APACS Cross-Border Payments 97

Fintech Review

OCTOBER 7, 2024

Unlocking Global Cross-Border Payment Flows Stablecoins like XSGD are rapidly emerging as the preferred solution for on-chain cross-border payments, providing a secure and efficient alternative to traditional financial systems.

Cross-Border Payments 52

Cross-Border Payments Cross-Border Stablecoins Financial Inclusion 52