Fly Wing Technologies Pte Ltd, a subsidiary of Matrixport, has successfully obtained the Major Payment Institution (MPI) License from the Monetary Authority of Singapore (MAS). This development marks a significant milestone for the company, reinforcing its commitment to regulatory compliance and operational excellence in the digital finance sector.

Strengthening Digital Finance Services

With this new license, Fly Wing is positioned to enhance its role as a trusted Over-the-Counter (OTC) desk in Singapore. The approval follows an initial in-principle consent received in October, reflecting Fly Wing’s dedication to adhering to Singapore’s stringent financial regulatory standards.

The MPI License enables Fly Wing to offer comprehensive Digital Payment Token services, providing seamless access to blockchain-driven financial solutions for its clientele. The company aims to support both crypto and traditional finance sectors, facilitating over $100 million in monthly transactions and providing liquidity for major cryptocurrencies.

Matrixport’s Vision for Expansion

John Ge, Co-founder and CEO of Matrixport, expressed enthusiasm about Fly Wing’s licensing achievement. He emphasized that this development is pivotal in Matrixport’s strategic expansion across the Asia-Pacific region. “We look forward to providing high-quality Digital Payment Token services to users in Singapore,” Ge stated.

Matrixport, the parent company, is a leading digital asset financial services platform with $6 billion in assets under management. It offers a wide range of services, including crypto trading, investment, and custody, to its global user base. The company’s ongoing expansion is supported by various licenses, including those in Hong Kong, Switzerland, and now Singapore.

About Fly Wing Technologies

Established in 2019, Fly Wing Technologies serves a diverse group of clients, including crypto miners, trading firms, and high-net-worth individuals. The company specializes in OTC services, enabling clients to on- and off-ramp Digital Payment Tokens efficiently.

The acquisition of the MPI License from MAS allows Fly Wing to solidify its presence in the digital finance industry, promising continuous innovation and secure, transparent services for its users.

For more information, visit the official Matrixport Blog.

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