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1 B2B Cross-Border Trade Payment Platform , was granted the Major PaymentInstitution (MPI) License under the Payment Services Act 2019 by the Monetary Authority of Singapore (MAS). This significant milestone strengthens XTransfer’s leading position in the B2B cross-border payments industry.
Singapore-based stablecoin infrastructure provider StraitsX has unveiled a refreshed brand identity as it expands its role in enabling compliant, real-time paymentsettlements. It supports tokenised currency issuance, FX, and settlement across both public and private blockchain networks.
(Banking Circle), a Luxembourg licenced bank and a leading international provider of next-generation banking services, is pleased to announce that its wholly owned subsidiary BC Payments Pte. This IPA marks a significant milestone for BC Payments Singapore. The post BC Payments Pte.
Cross-border payment firm XTransfer has received the Major PaymentInstitution (MPI) license from the Monetary Authority of Singapore (MAS). The company, founded in 2017, specialises in cross-border payment solutions tailored to small and medium-sized enterprises (SMEs).
Founded in 2021, Partior utilizes blockchain technology to transform clearing and settlement, and redefine the way value moves globally. Its platform covers payments in 173+ countries with local payment options in 70+ markets and offers global business accounts in 60+ currencies.
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.
Anchorage Digital Singapore, a crypto platform, has obtained a Major PaymentInstitution license from the Monetary Authority of Singapore (MAS). This licence allows the company to expand its services to include custody, staking, trading, settlement, and fiat on and off ramps for global institutions.
PEXA, the world’s leading digital property exchange platform, today announced that the Financial Conduct Authority (FCA) has approved its application to become an authorised paymentinstitution (API). This includes the development of PEXA Pay, the seventh net settlementpayment scheme to clear through the Bank of England.
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 paymentinstitutions (PIs) (together, payments firms).
HashKey Technology Services (HashKey OTC), the over-the-counter trading arm of HashKey Group, has been granted a Major PaymentInstitution license by the Monetary Authority of Singapore (MAS). This license enables HashKey OTC to provide digital payment token (DPT) services in Singapore.
The UK’s Financial Conduct Authority (FCA) has approved Atoa Payments , an open banking-enabled payments provider, to operate as an Authorised PaymentInstitution (API).
StraitsX, a digital asset payments infrastructure provider in Southeast Asia, has received Major PaymentInstitution (MPI) licenses from the Monetary Authority of Singapore (MAS). and StraitsX Payment Services Pte. The licenses were issued to StraitsX USD Issuance Pte. StraitsX SGD Issuance Pte.
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 paymentinstitution from the Financial Conduct Authority (FCA). 18) that its U.K.
The Monetary Authority of Singapore (MAS) has grantedChina-based B2B cross-border trade payment platform, XTransfer , a Major PaymentInstitution (MPI) licence, enabling it to provide a range of money transfer services in the region. This enables uninterrupted fund circulation throughout the trade process.
QCP Trading, a provider of over-the-counter (OTC) spot trading services for digital assets, has been granted in-principle approval for a Major PaymentInstitution (MPI) license by the Monetary Authority of Singapore (MAS).
Atoa Payments Limited, a leading provider of open banking-enabled payments, has secured regulatory approval from the UK Financial Conduct Authority (FCA) to operate as an Authorised PaymentInstitution (API). Payment Account Information Services – Providing real-time transaction data insights for businesses.
As part of this expansion, B2C2 shared that it will apply for a Major PaymentInstitution license from the Monetary Authority of Singapore. Backed by the Japanese financial services group SBI, B2C2 offers credit, deep liquidity, competitive pricing, and market-leading settlement services to institutional clients.
HashKey Technology Services, the over-the-counter (OTC) trading division of the HashKey Group , has secured in-principle approval from the Monetary Authority of Singapore (MAS) for its application for a Major PaymentInstitution license. This license will enable HashKey OTC to provide digital payment token services.
Plaid , a paymentinstitution regulated by the Financial Conduct Authority (FCA), has raised around $575million in a fundraise led by Franklin Templeton , alongside Fidelity Management and Research.
Singaporean paymentinstitution 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.
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 PaymentInstitution 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.
This ecosystem is expected to address the needs of institutional investors, offering solutions like reduced risks in counterparty and settlement, and capital efficiencies through innovative risk management processes.
.” Founded in Singapore in 2021, Finmo’s all-in-one platform offers real-time payment capabilities, cash flow visibility, foreign exchange (FX) risk management, compliance automation, and liquidity optimisation. Finmo holds a Major PaymentInstitution (MPI) licence from the Singaporean authorities.
This continued expansion is a step towards Nium’s commitment to revolutionizing the global payments landscape in this strategic region. Additionally, Nium is seeking FX authorization in Brazil to enhance its foreign exchange transaction capabilities. Nium has been present in the region dating back to 2017.
Founded in Singapore in 2021, Finmo ‘s all-in-one platform offers real-time payment capabilities, cash flow visibility, foreign exchange (FX) risk management, compliance automation, and liquidity optimisation. Finmo holds an Major PaymentInstitution (MPI) license from the Singaporean authorities and is committed to expanding globally.
The Dubai Financial Services Authority (DFSA) has granted Ripple , the enterprise blockchain and crypto solution provider, approval to provide regulated crypto payments and services in the Dubai International Financial Centre (DIFC).
Each license allows the holder to conduct multiple specific payment services. Data from MAS’ Financial Institutions Directory show that as of August 01, 2022, 231 Money-Changing, 13 Standard PaymentInstitutions, and 175 Major PaymentInstitution licenses had been issued.
The United Kingdom’s financial regulator has toughened rules on payment companies less than two weeks after Wirecard AG’s collapse locked millions of customers out of their accounts, the Financial Times reported. This is the end of light-touch regulation of e-money and paymentinstitutions.” .
A snapshot of Singapore’s crypto landscape According to the latest report by Triple-A, a licensed cryptocurrency paymentinstitution, Singapore boasts one of the highest cryptocurrency ownership rates globally. This places the island nation significantly above the worldwide average of 6.8
For most businesses, applying for a license from the UK Financial Conduct Authority (FCA) is the first step when providing payment services. While obtaining FCA authorisation may seem like the obvious choice, it comes with a host of regulatory obligations, significant costs, and administrative burdens.
Decentralized finance company Ripple acquired Standard Custody & Trust Company, a firm that offers institutional-grade custody, escrow, and settlement platform for digital assets. The company and its subsidiaries have acquired a New York BitLicense, nearly 40 U.S.
On the payments side of the equation, Brexit threatens to force the relocation of hundreds, even thousands, of workers in the financial sector within just a few short years, and PSD2 will have a major impact on the payments industry when it takes effect in January. We also offer over 170 settlement currencies.” Brown explained.
By offering greater financial inclusion and opening access to new markets, XSGD will drive digital asset adoption and accelerate innovation in cross-border payments. This trusted and secure stablecoin offers users a reliable solution for global cross-border payments, making it a pivotal tool for the future of digital transactions.
The six month pause on paymentsinstituted by Australian Banks was certainly not designed to accommodate the situation we now find ourselves in. This all points to the likelihood of a protracted period of economic uncertainty as governments act to contain outbreaks when, and where, they appear.
Platform participants get access to exchange rates, and can negotiate their own exchange rates, and upon agreeing, are required to send the exact funds via individual client accounts to Verto (held in turn in escrow accounts) for settlement once an offer has been accepted. Settlement occurs within hours, and not days.
In January 2017, he took the wraps off the first modern clearing and settlement bank in 250 years — or since 1767 — in the U.K. and the dearth of anyone innovating in core banking systems — or even talking about establishing a new clearing and settlement bank that might expedite FinTech innovation. Clearing The Path To Change.
At the same time, led by government authorities in specific sectors, UnionPay will encourage other industry players to pool their resources. It will direct CNY 3 billion to focus on acceptance terminal upgrades, signage placement and publicity, etc. in key cities and use cases. in key cities and use cases.
has been granted In-Principle Approval for a Major PaymentInstitution (MPI) license from the Monetary Authority of Singapore (MAS). An IPA does not constitute a license at this juncture. MAS reserves the right to rescind the IPA in circumstances where it considers appropriate.
Hex Trust Group, a digital asset custodian, has received a Major PaymentInstitution (MPI) license from the Monetary Authority of Singapore (MAS) This license allows Hex Trust to provide regulated cross-border money transfer and Digital Payment Token (DPT) services.
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.
Businesses can issue virtual cards for supplier payments, employee reimbursements, and gig economy payouts, while consumers benefit from faster disbursements and more flexible payment options. In BNPL scenarios, virtual cards can be dynamically issued, enabling instant financing and streamlined settlement.
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