Reap Group has received a major payment institution (MPI) license from the Monetary Authority of Singapore.

The license allows the Hong Kong-headquartered fintech firm to offer account issuance, domestic money transfers, and cross-border money transfer services in Singapore.

Reap Group uses blockchain technology for business account management and ad solutions.

The company said it plans to increase hiring in Singapore by 50% this year as it expands its operations in Southeast Asia.

Singapore will serve as a key base for Reap Group’s regional and cross-border payments activities, while its global headquarters remain in Hong Kong.

🔗 Source: Reap Group