Brazil’s Ebanx receives in-principle approval for MPI licence in Singapore

Brazilian payments platform Ebanx is set to expand its operations in the Asia-Pacific (APAC) region, having received in-principle approval for a Major Payment Institution (MPI) licence from the Monetary Authority of Singapore (MAS).

Once granted, the licence will enable the platform to provide cross-border money transfer and merchant acquisition services to customers in Singapore through its regional subsidiary, Ebanx Pte Ltd.

To help drive its growth in the region, Fernanda De Fino, global director of risk and compliance at Ebanx, has relocated from Brazil to Singapore, where she will now also serve as executive director.