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XREX Singapore, a blockchain-enabled financial institution specialising in cross-borderpayments, has been granted a Major PaymentInstitution (MPI) license by the Monetary Authority of Singapore (MAS). XREX Pay will accommodate transactions in Singapore Dollar (SGD) and U.S.
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.
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