Hugosave secures MPI licence from MAS

The company can now offer services exclusive for MPI licence holders.

Singapore-based all-in-one digital account Hugosave has been granted a Major Payment Institution (MPI) licence from the Monetary Authority of Singapore.

With the licence, Hugosave can now offer a raft of facilities including account and e-money issuance, domestic, and cross-border money transfers.

Since its establishment in 2019, Hugosave has continued to grow. During the start of 2022 alone, accounts in Hugusave increased by 600%.

“Hugosave’s newly-conferred MPI licence is demonstrative of the confidence and affirmation placed in us from our financial regulator. What started out as a vision to democratise personal finance, has since transformed into a full-fledged wealth management and payments institution; and all without crippling fees and penalties from the incumbents,” David Fergusson, Hugosave’s co-founder and CEO said.

You May Also Like:

Crypto and DeFi cannot circumvent Russia financial sanctions: MAS

Tonik hires former Google and Facebook exec

Supporting multinationals to uncover ambitions in Asia

Follow the link for more news on

Hugosave

Hugosave MPI licence

Also Read

GCash eyes 2025 IPO, looking to raise up to $1.5b

Atome Financial clinches $200m facility for SEA expansion plans

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit