Fly Wing Technologies Secures Major Payment Institution License: A Milestone for Digital Finance in Singapore

By Rebeca Moen | March 06, 2025

In a significant development for the digital finance landscape in the Asia-Pacific region, Fly Wing Technologies Pte Ltd, a subsidiary of Matrixport, has been granted the prestigious Major Payment Institution (MPI) License by Singapore’s Monetary Authority of Singapore (MAS). This pivotal achievement not only underscores the firm’s commitment to adhering to stringent regulatory standards but also enhances its capabilities in providing innovative digital financial solutions.

Elevating Digital Finance Services

With this license under its belt, Fly Wing is well-positioned to strengthen its role as a trusted Over-the-Counter (OTC) desk in Singapore. The approval follows an initial in-principle consent received in October, demonstrating Fly Wing’s unwavering dedication to regulatory compliance. This allows the company to offer a comprehensive suite of Digital Payment Token services, streamlining access to blockchain-based financial solutions for a variety of clients.

Fly Wing Technologies aims to serve both crypto and traditional finance sectors, boasting the capability to process over $100 million in monthly transactions. This move not only enhances liquidity for major cryptocurrencies but also catalyzes broader adoption of digital assets across diverse market participants.

Matrixport’s Forward-Thinking Vision

John Ge, Co-founder and CEO of Matrixport, expressed his excitement about Fly Wing’s licensing success. He highlighted its importance as a cornerstone for Matrixport’s strategic expansion within the Asia-Pacific market. “We look forward to providing high-quality Digital Payment Token services to users in Singapore,” Ge remarked, emphasizing his vision for a more interconnected digital finance ecosystem.

Matrixport itself stands as a formidable force in the digital asset financial services space, managing $6 billion in assets. Its portfolio includes a range of services such as crypto trading, investment, and custody solutions that cater to an ever-growing global user base. The company’s expansion strategy is buoyed by a series of regulatory licenses, including those from Hong Kong, Switzerland, and now, Singapore.

The Vision of Fly Wing Technologies

Founded in 2019, Fly Wing Technologies offers tailored services to a wide array of clients, including crypto miners, trading firms, and affluent individuals. Its expertise lies in providing efficient OTC services, enabling clients to navigate the complexities of on- and off-ramping Digital Payment Tokens.

The receipt of the MPI License from MAS cements Fly Wing’s footprint in the digital finance sector, poised for a future of continuous innovation, secure transactions, and transparent services.

As the digital finance ecosystem evolves, companies like Fly Wing Technologies will be crucial in driving the adoption of blockchain solutions, benefiting businesses and individuals alike.

Stay tuned to Extreme Investor Network for more insights and updates on the rapidly changing world of cryptocurrency and blockchain technology, where we strive to bring you unique perspectives and valuable information that sets us apart from the rest.

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