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XREX Singapore Gets MAS Greenlight for Crypto Payments License

Fintech News

XREX Singapore, a blockchain-enabled financial institution specialising in cross-border payments, has been granted a Major Payment Institution (MPI) license by the Monetary Authority of Singapore (MAS). The company plans to launch XREX Pay, a platform designed to facilitate B2B payments and remittance services.

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Here Are All The Licensed Crypto Services Providers in Singapore

Fintech News

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 Payment Institutions, and 175 Major Payment Institution licenses had been issued.