EBANX Receives Approval for Major Payment Institution License to Boost Global Payments Reach

EBANX Expands Global Reach with New License in Singapore

In a significant move to enhance its global payment operations, EBANX, a renowned Payment Service Provider (PSP) focused on emerging markets, has announced that it has received In-Principle Approval for a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). This new license is set to empower EBANX to offer two crucial services: cross-border money transfers and merchant acquisition services, thereby strengthening its infrastructure for a vast network of over 500 global enterprise merchants.

The importance of this MPI license cannot be overstated, as it is positioned to bolster EBANX's existing operations in the Asia-Pacific (APAC) region. In 2024, the APAC market contributed a substantial 39% of EBANX's total processed volume. With established offices in Shanghai and Singapore, as well as new payment operations in India, EBANX is cementing its presence in key markets of this dynamic region.

João Del Valle, the CEO and Co-founder of EBANX, stated, "Receiving In-Principle Approval for an MPI license in Singapore, one of the most robust ecosystems for international payments, is a testament to EBANX's commitment to maintaining the highest regulatory standards. This will provide exceptional value to our clients globally, allowing us to expand our service capabilities further."

Historically, EBANX's presence in the Asia-Pacific can be traced back to its inception in 2012, with Singapore serving as the cornerstone of its operations. The new MPI license will take the place of the existing authorization provided by MAS for EBANX’s cross-border operations.

This approval is part of EBANX's strategic growth initiatives in Asia, which have included significant partnerships, such as the one with YES BANK in India. Additionally, the company has appointed a Country Director to oversee its operations there, demonstrating its commitment to investing in the region's growing fintech landscape.

Del Valle also noted, "For over a decade, EBANX has been the payment partner of choice for both established and emerging merchants across the APAC region. Our partnerships extend beyond e-commerce in China, adding diverse industries such as software with Australia’s Canva and gaming with South Korea’s Gravity Game Vision. Recognitions like EBANX being listed among Forbes China's 30 pioneering brands in international expansion solidify our role in the market."

The recent MPI license acquisition marks yet another chapter in EBANX's journey within the APAC region, aligning with its broader global expansion strategy. The company's achievements in Latin America and Africa have laid a firm foundation on which it aims to build stronger operations throughout APAC.

In a concrete step toward bolstering its strategic growth, Fernanda De Fino, the Global Director of Risk and Compliance, will be relocating to Singapore. De Fino will now also serve as the Executive Director of EBANX in Singapore, amplifying the company's regional presence and underscoring its commitment to compliance and risk management in a complex regulatory environment.

De Fino remarked, "Singapore’s robust regulatory framework and strategic location make it the ideal hub to enhance EBANX's global operations in 29 countries. We are excited to contribute actively to its leading fintech ecosystem."

This ongoing investment in talent and infrastructure reflects EBANX's dedication to not only expanding its services in the APAC region but also significantly enhancing the payment experiences of both businesses and consumers in emerging markets. As the company plans to continue expanding its team and capabilities in the region, it stands poised to become a streamlined gateway for international merchants looking to tap into the rapidly-growing digital economy of Asia.

About EBANX

Founded in 2012 in Brazil, EBANX connects global businesses to fast-growing digital markets, leveraging innovative technology and local expertise to enhance payment experiences and optimize growth. With operations spanning across Latin America, Africa, and Asia, EBANX aims to make international digital commerce more accessible and beneficial for local clients, enhancing sales for thousands of merchants worldwide.