XREX Singapore Receives MAS Major Payment Institution Licence
SINGAPORE, May 12, 2024 /PRNewswire/ -- XREX Singapore , a blockchain-enabled financial institution specialising in cross-border payments in emerging markets, announced today that it has obtained the Major Payment Institution (MPI) Licence from the Monetary Authority of Singapore (MAS), the nation's central bank and financial regulator.
- SINGAPORE, May 12, 2024 /PRNewswire/ -- XREX Singapore , a blockchain-enabled financial institution specialising in cross-border payments in emerging markets, announced today that it has obtained the Major Payment Institution (MPI) Licence from the Monetary Authority of Singapore (MAS), the nation's central bank and financial regulator.
- With this licence in hand, XREX Singapore will endeavour to bring blockchain-enabled digital payment currencies to ubiquity."
- XREX Singapore's licence encompasses a total of six payment services, namely:
ii) Domestic money transfer service;
iii) Cross-border money transfer service;
vi) Digital payment token service. - With XREX Singapore as the group's Asia Pacific headquarters, XREX looks forward to expanding its partnership with major banks, credit card institutions, and payment institutions to build next-generation financial systems that integrate traditional and blockchain finance," said XREX Co-founder and Group Chief Revenue Officer Winston Hsiao.