Fly Wing Technologies, a subsidiary of digital asset platform Matrixport, has received a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS).

The approval allows Fly Wing to continue building its role as a trusted over-the-counter (OTC) desk for digital payment token services in Singapore.

The license follows the in-principle approval granted in October 2024.

The company facilitates digital asset transactions for crypto miners, trading firms, investment firms, and high-net-worth individuals, handling over $100 million in monthly transactions.

John Ge, Co-founder and CEO of Matrixport, said,

“We are thrilled that Fly Wing has received its license from the MAS. This marks a significant step in our ongoing expansion across the Asia-Pacific region.

We look forward to providing high-quality Digital Payment Token services to users in Singapore.”

Featured image credit: Edited from Freepik