Fly Wing Technologies Pte Ltd Obtains a Major Payment Institution License from the Monetary Authority of Singapore

SINGAPORE, March 04, 2025 (GLOBE NEWSWIRE) -- Fly Wing Technologies Pte Ltd ("Fly Wing"), a wholly owned subsidiary of Matrixport, the world's leading and largest one-stop crypto financial services platform in Asia

Singapore-based subsidiary of Matrixport, Fly Wing Technologies Pte Ltd, has announced that it has received the Major Payment Institution (MPI) License from the Monetary Authority of Singapore (MAS).

This follows the in-principle approval for the license, which was granted in October.

MPI licenses are granted to entities that provide services related to Digital Payment Tokens in Singapore, in accordance with the Payment Services Act (PSA).

Announced on Friday (March 4), the license approval will see Fly Wing continue its role as a trusted Over-the-Counter (OTC) desk in Singapore.

Fly Wing is a subsidiary of Matrixport, a leading digital asset financial services platform in Asia.

Serving a diverse clientele of crypto miners, trading firms, investment firms and high-net-worth individuals from both crypto and traditional finance, Fly Wing provides OTC services for customers to on- and off-ramp Digital Payment Tokens.

The company facilitates over $100 million in monthly transactions and provides liquidity for major cryptocurrencies.

Fly Wing also provides investment and lending products tailored to the specific needs of its diverse clientele.

Co-founder and CEO of Matrixport, John Ge, said: “We are delighted 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.”

Having received its license from the MAS, Fly Wing is well-positioned to build a strong foundation for long-term growth, driving continuous innovation in the digital finance sector.

Moving forward, Fly Wing will continue to offer innovative Digital Payment Token services securely and transparently.

The firm will also continue to optimize blockchain-driven Digital Payment Token services, enabling seamless access for users entering the Web 3.0 industry.

About Fly Wing Technologies Pte Ltd

Founded in 2019, Fly Wing Technologies Pte. Ltd. is a wholly owned subsidiary of Matrixport, a leading digital asset financial services platform in Asia.

Serving a diverse clientele of crypto miners, trading firms, investment firms and high-net-worth individuals from both crypto and traditional finance, the company engages in OTC services for customers to on- and off-ramp Digital Payment Tokens, facilitating over $100 million in monthly transactions and providing liquidity for major cryptocurrencies.

Fly Wing has also received the MPI License from MAS to provide Digital Payment Token services for OTC trading in Singapore.

About Matrixport

Founded in 2019, Matrixport is the world’s leading all-in-one hub for crypto financial services. The platform is committed to providing every user with a personalized Super Account that integrates crypto trading, investment, loan, custody, RWA, research and more.

With $6 billion in AUM (assets under management), Matrixport offers global users diverse crypto-financial solutions designed for optimal capital efficiency and sustainable returns.

As a Group and through its local subsidiaries, Matrixport has received the Trust or Company Service Provider / Money Lender Licenses in Hong Kong, and the FINMA Asset Management License in Switzerland. The company operates as an Appointed Representative in the UK, is registered as an MSB in the US, and a member of Switzerland's FINMA SRO-VFQ. It was recognized by CB Insights as one of the “50 Most Promising Blockchain Companies” and featured in the Hurun "2024 Global Unicorn List.” Additionally, Matrixport's subsidiary, Fly Wing, has received the MPI License from MAS in Singapore.