New data shows Singapore’s importance to cross-border payments industry
· FXC Intelligence has published a report mapping Singapore’s payments players using data from the Monetary Authority of Singapore (MAS). · The MAS currently lists 15 companies with SPI (Standard Payment Institution) licences and 207 with MPI (Major Payment Institution) licences, although only 201 of these appear to be active. · 93% of MPI licence holders have a cross-border money transfer licence, demonstrating the importance of the city to the cross-border payments industry as a hub of