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Singapore Offers Visa’s Currencycloud In-Principle Approval for MPI License

Finovate

Currencycloud was offered In-Principle Approval to serve as a Major Payment Institution 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.

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Currencycloud Facilitates Seamless Cross-Border Payments with Singapore MPI Licence

The Fintech Times

Currencycloud, a Visa solution, is granted preliminary approval for a major payment licence from the Monetary Authority of Singapore (MAS). For businesses in Singapore, customers can make conversions and payouts in their respective time zones and local currencies.

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Currencycloud granted ‘In-Principle Approval’ for MPI Licence by the Monetary Authority of Singapore

Fintech Finance

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 Payment Institution (MPI) licence holder from the Monetary Authority of Singapore (MAS).

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XTransfer and EBANX Partner to Facilitate B2B Trade Payments in Latin America

Fintech Finance

We are thrilled to partner with XTransfer, expand our footprint in the APAC region, and support them in their acceleration in Latin America,” said Wei Duan, VP of APAC at EBANX. Partnering with a leading local payments institution like EBANX allows us to navigate the complexities of the region’s payment landscape with ease.

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Simplifying Global Money Movement with Visa Cross-Border Solutions

Fintech News

That, then evolved into multi-currency wallets and the ability to hold multiple currencies. In 2021, Visa acquired Currencycloud in a deal valued at US$963 million, with the primary aim of enhancing transparency, flexibility, and control in cross-border payments.

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XTransfer and EBANX Join Forces to Support Firms Selling to Latin America With New Payment Solutions

The Fintech Times

Typical B2B payments can still take up to 14 days to be confirmed and involve up to six intermediaries, often with low visibility and high fees, according to EBANX’s annual study, Beyond Borders 2024.