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and part of the Pine Labs group, has received in-principle approval from the Monetary Authority of Singapore (MAS) for a Major PaymentInstitution (MPI) license. The company also collaborates with DBS Bank, Google Pay, United Overseas Bank, and Singtel Dash as part of its loyalty program to enable interoperablepayments.
Theme 1: Establishing Optimal Governance and Interoperability Frameworks Effective governance and interoperability frameworks will be crucial for managing the complexities of cross-border payments. One idea is to have a central system for checking payments against sanctions lists, which could make the process faster and simpler.
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. Additionally, Xfers Pte.
The service provides a vital layer of security for financial transactions, helping to reduce the risk of fraudulent activity and accidental misdirection of payments. The solution is compliant with Instant Payment Regulation, supporting paymentinstitutions to match the normative requirements.
The company has an extensive portfolio of licenses, including a New York BitLicense and a Major PaymentInstitution License from the Monetary Authority of Singapore , among others. A “compliance-first” approach underscores Ripple’s commitment to adhering to regulatory standards worldwide.
Moreover, Pix offers lower fees compared to traditional payment methods, with no risk of chargebacks, helping merchants reduce operating costs. In 2025, PagBrasil received authorisation from the Central Bank of Brazil to operate as a paymentinstitution (PI) in the electronic money issuer category.
However, nearly two-thirds face challenges in achieving a unified view of payments across physical and digital touchpoints. This partnership aims to alleviate this by enhancing interoperability for end-to-end processing.
. “Now, almost two years after the acquisition, a greater integration has happened, so critical capabilities got integrated into what we know as Visa Cross-Border Solutions” to continue delivering global money movement solutions for banks, fintechs, FX brokers, and other paymentinstitutions, according to Rohit.
The license enables TerraPay to directly partner with Malaysian banks, licensed paymentinstitutions, and enterprises to facilitate seamless inbound and outbound remittances, B2B payments, and wallet payouts.
The company and its subsidiaries collectively hold a New York BitLicense , nearly 40 money transmitter licenses across the US, a Major PaymentInstitution License from the Monetary Authority of Singapore , and a Virtual Asset Service Provider registration with the Central Bank of Ireland.
Furthermore, UnionPay will enhance collaboration with banks and paymentinstitutions, expedite payment code interoperability, strengthen partnerships with Chinese clearing institutions, and further engage in consultations with other international card schemes to jointly establish a convenient, open and inclusive payment ecosystem.
For paymentinstitutions wanting to build a modern money movement network to deliver the exceptional customer experience that their customers want, their legacy technology is not always able to support next-generation cross-border expectations and keep pace with changing regulatory requirements.
Cloud-based and modular architectures simplify integration, enhance innovation, and reduce complexity, empowering paymentinstitutions to stay competitive in an evolving landscape. For instance, the UK and Europe, despite having long-established real-time payment systems, still face challenges in realising their full potential.
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