XTransfer granted MPI license in Singapore

XTransfer will launch its payments solutions soon.

XTransfer has clinched a major payment institution (MPI) license under the Payment Services Act 2019 by the Monetary Authority of Singapore (MAS), officially issued on 1 January 2025.

With the MPI license, XTransfer is able to provide services including account issuance, domestic money transfer, cross-border money transfer, and e-money issuance.

XTransfer expects to launch its payment solutions soon.

Services to be offered include easy account setup, flexible top-up options, efficient currency exchange services, and simplified cross-border fund collection and payment solutions. These are designed specifically for small and medium-sized enterprises (SMEs) involved in international trade.

Founded in 2017, XTransfer now has over 550,000 enterprise clients across China and the ASEAN region.

Follow the link for more news on

Monetary Authority of Singapore

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