Funds infrastructure firm TerraPay has been awarded a Main Fee Establishment (MPI) License by the Financial Authority of Singapore (MAS). With this new license, TerraPay now has 11 licenses and 19 approvals throughout 30 worldwide markets.
The MAS license allows TerraPay to increase its cost companies in Singapore, together with account issuance, home and worldwide cash transfers, service provider acquisition, and e-money issuance.
This growth is geared toward assembly the growing calls for for environment friendly and clear cost options within the area and past.
Singapore is a necessary hub for TerraPay’s operations and this new license will allow TerraPay in bolstering its partnerships inside the area and accelerating its presence within the Asia Pacific space.
Sheshagiri Malliah
Sheshagiri Malliah, Managing Director at TerraPay mentioned,
“Being granted this license by the Financial Authority of Singapore is an enormous milestone for TerraPay, particularly as we increase our attain and companies throughout geographical borders.
As we proceed to develop, we’re excited to prioritise the event of strategic cross-border cost partnerships and progressive options to assist simplify world cash motion.”
Featured picture credit score: Edited from Freepik
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