MAS grants Major Payment Institution License to BC Payments Pte. Ltd.

Banking Circle S.A. (Banking Circle) is pleased to announce that its wholly owned subsidiary BC Payments Pte. Ltd. (BC Payments Singapore) has been granted a Major Payment Institution (MPI) license by the Monetary Authority of Singapore (MAS).

A significant milestone in Banking Circle’s global expansion strategy, BC Payments Singapore is now fully licensed to facilitate frictionless, scalable, and compliant cross-border payment flows for banks, fintechs and global payment providers in Singapore.

“Securing the MPI license from MAS is a crucial progression in Banking Circle’s mission to build the payments infrastructure for the global financial economy,” said Mishal Ruparel, Chief Commercial Officer of Banking Circle. “Singapore’s progressive regulatory framework and status as a leading global financial centre make it the natural base for our regional expansion and a strategic hub for our Asia Pacific operations. With this license, we are well placed to support our clients’ global payment needs and accelerate instant, low cost payments in the region.”