Fly Wing Technologies Pte Ltd, a wholly owned subsidiary of Matrixport, the “one-stop” crypto financial services platform in Asia, announced that it has been granted the Major Payment Institution (MPI) License by the Monetary Authority of Singapore (MAS).
With this license approval, Fly Wing will continue “building its role as a trusted Over-the-Counter (OTC) desk” in Singapore.
This license follows the in-principle approval received in October, underscoring Fly Wing’s commitment “to regulatory compliance and operational excellence.”
John Ge, Co-founder and CEO of Matrixport, stated:
“We are thrilled that Fly Wing has received its license from the MAS. This marks a significant step in our ongoing expansion across the Asia-Pacific region. We look forward to providing high-quality Digital Payment Token services to users in Singapore.”
Having received its license from the MAS, Fly Wing is well-positioned to build a strong foundation for Fly Wing’s “long-term growth, driving continuous innovation in the digital finance sector.”
Moving forward, Fly Wing will continue to “offer Digital Payment Token services securely and transparently and will continue to optimize blockchain-driven Digital Payment Token services, enabling seamless access for users entering the Web 3.0 industry.”
Founded in 2019, Fly Wing Technologies Pte. Ltd. is a wholly owned subsidiary of Matrixport, a digital asset financial services platform in Asia.
Fly Wing says it serves a diverse clientele, including “crypto miners, trading firms, investment firms, and high-net-worth individuals from both crypto and traditional finance.”
The company engages in OTC services for customers “to on- and off-ramp Digital Payment Tokens, facilitating over $100 million in monthly transactions and providing liquidity for major cryptocurrencies.”
Fly Wing has received the MPI License from MAS to “provide Digital Payment Token services for OTC trading in Singapore.”
Founded in 2019, Matrixport is the world’s “all-in-one hub for crypto financial services.”
The platform is committed to providing “every user with a personalized Super Account that integrates crypto trading, investment, loan, custody, RWA, research and more.”
With $6 billion in AUM (assets under management), Matrixport offers global users diverse crypto-financial solutions “designed for optimal capital efficiency and sustainable returns.”
As a Group and through its local subsidiaries, Matrixport has “received the Trust or Company Service Provider / Money Lender Licenses in Hong Kong, and the FINMA Asset Management License in Switzerland.”
The company operates as “an Appointed Representative in the UK, is registered as an MSB in the US, and is a member of Switzerland’s FINMA SRO-VFQ. ”
Additionally, Matrixport’s subsidiary, Fly Wing, has “received the MPI License from MAS in Singapore.”
