Matrixport's Fly Wing Wins Major Payment Institution License in Singapore

Matrixport's subsidiary, Fly Wing Technologies Pte Ltd, has been granted a Major Payment Institution (MPI) license by the Monetary Authority of Singapore (MAS). This significant development allows Fly Wing to continue its role as a trusted Over-the-Counter (OTC) desk in Singapore, following its in-principle approval in October.

John Ge, Co-founder and CEO of Matrixport, expressed his enthusiasm about the license approval, stating that it marks a significant step in the company's ongoing expansion across the Asia-Pacific region. Fly Wing is now well-positioned to provide high-quality Digital Payment Token services to users in Singapore, driving continuous innovation in the digital finance sector.

Founded in 2019, Fly Wing Technologies Pte. Ltd. is a wholly-owned subsidiary of Matrixport, a leading digital asset financial services platform in Asia. Fly Wing serves a diverse clientele, including crypto miners, trading firms, investment firms, and high-net-worth individuals from both crypto and traditional finance. The company specializes 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.

Matrixport, founded in the same year, 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 various licenses, including 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 is a member of Switzerland's FINMA SRO-VFQ. It has been recognized by CB Insights as one of the "50 Most Promising Blockchain Companies" and featured in the Hurun "2024 Global Unicorn List."