MAS Grants Major Payments Institution License to Fintech PayerMax's Payments Unit

According to Tech in Asia, the Monetary Authority of Singapore (MAS) has granted a major payment institution license to the payment department of the Singaporean financial technology company PayerMax, allowing it to provide regulated payment products to local customers. PayerMax can now provide cross-border payments in Singapore. And domestic remittance and merchant acquiring services. Foresight News previously reported that in December last year, the Monetary Authority of Singapore issued a license to the digital asset exchange MetaComp, which can provide digital payment token services as a major payment institution.