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EBANX, a leading global Payment Service Provider (PSP) specializing in emerging markets, has received In-Principle Approval for a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). This milestone enables EBANX to expand its cross-border money transfer and merchant acquisition services in Singapore, strengthening its global settlement hub and empowering its network of over 500 enterprise merchants.

The approval comes at a pivotal time for EBANX, as 39% of its total processed volume in 2024 originated from the Asia-Pacific (APAC) region. With established offices in Shanghai and Singapore and newly launched payment operations in India, EBANX continues to deepen its presence across key Asian markets.

"Receiving In-Principle Approval for the MPI license in Singapore—one of the world's most advanced financial hubs—reaffirms our commitment to regulatory excellence and delivering greater value to our global clients. This approval enhances our ability to provide seamless payment solutions across APAC and beyond," said João Del Valle, CEO and Co-founder of EBANX.

Expanding APAC Presence and Strengthening Global Growth

Since its founding in 2012, EBANX has strategically positioned Singapore as its operational hub in APAC. The forthcoming MPI license will replace the company’s current authorization from MAS, enhancing its cross-border payment capabilities. This approval follows a series of strategic moves in the region, including:

• A partnership with YES BANK to enhance payment solutions in India.
• The appointment of a Country Director to lead and expand operations in the country.

"For 12 years, EBANX has been the preferred payment partner for enterprise merchants in APAC’s emerging economies, supporting businesses through multiple phases of digital commerce evolution. Our expansion beyond China and online retail into sectors like SaaS, gaming, and B2B trade reflects our commitment to long-term regional growth," Del Valle added.

EBANX’s diverse client portfolio includes major Asian and global brands such as:

• Canva (Australia, SaaS)
• Gravity Game Vision (South Korea, gaming)
• XTransfer (China, financial services)
• Alibaba (China, B2B trade)

Strengthening Leadership in Singapore

As part of its APAC expansion strategy, EBANX is relocating Fernanda De Fino, Global Director of Risk and Compliance, to Singapore, where she will also serve as Executive Director of EBANX Singapore.

"Singapore’s strong regulatory framework and strategic location make it an ideal hub to connect EBANX’s global operations across 29 countries. Our continued investment in the region underscores our long-term vision for APAC’s digital payments landscape," said De Fino.

With a growing team across Shanghai, Singapore, and India, EBANX is poised for continued expansion in the region, further strengthening its position as a trusted payment partner in emerging markets worldwide.