EBANX, a global payment service provider specialising in emerging markets, has received In-Principle Approval for a Major Payment Institution licence from the Monetary Authority of Singapore (MAS). This approval allows EBANX to expand its cross-border money transfer and merchant acquisition services, enhancing its global settlement hub and benefiting over 500 enterprise merchants worldwide.
The Asia-Pacific (APAC) region is crucial for EBANX, accounting for 39% of its total processed volume in 2024. The company operates offices in Shanghai and Singapore and has recently initiated payment operations in India. João Del Valle, CEO and co-founder of EBANX, stated, “Receiving In-Principle Approval for an MPI licence in Singapore, one of the most robust ecosystems for international payments, is a testament to EBANX’s priority to meet the highest regulatory standards.”
The approval follows strategic moves by EBANX in Asia, including a partnership with YES BANK and appointing a Country Director for India. EBANX has been a key payments partner for APAC merchants for 12 years, supporting growth across various markets in Latin America and Africa. The company serves multiple sectors, including SaaS, gaming, and financial services, with clients like Canva and Alibaba.
To further its strategic growth in APAC, EBANX has relocated Fernanda De Fino, Global Director of Risk and Compliance, to Singapore. De Fino will also serve as the Executive Director of EBANX in Singapore, reinforcing the company’s commitment to the region. EBANX plans to continue expanding its team across APAC, leveraging Singapore’s strategic location and robust regulatory framework.
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