Solowin Holdings Acquires 19% Equity in GPL Remittance Pte. Ltd.

Solowin Holdings, a leading financial services firm, has entered into an equity purchase agreement to acquire a 19% stake in GPL Remittance Pte. Ltd., a Singapore-based cross-border payment institution licensed by the Monetary Authority of Singapore. The deal marks a strategic enhancement to Solowin's digital payment infrastructure, expanding its market competitiveness and business scope.

Solowin Holdings, a leading financial services firm, has entered into an equity purchase agreement to acquire a 19% stake in GPL Remittance Pte. Ltd., a Singapore-based cross-border payment institution licensed by the Monetary Authority of Singapore (MAS). The deal, announced on August 15, 2025, marks a strategic enhancement to Solowin's digital payment infrastructure, expanding its market competitiveness and business scope.

GPL Remittance Pte. Ltd., established over 30 years ago, holds an MPI license from MAS, which allows it to provide both traditional and innovative payment services while maintaining strict regulatory compliance. The MPI license is Singapore's most comprehensive payment authorization, enabling entities to scale globally and build trust with clients and partners.

Solowin Holdings, which operates in both traditional and Web3 industries, aims to leverage GPL's extensive operational expertise to strengthen its licensed payment channels in Singapore and internationally. The acquisition will serve as a compliance baseline for Solowin to conduct payment services in Singapore and globally, as well as a strategic asset that enhances its market competitiveness and expands its business boundaries.

The transaction, which includes a cash consideration of SGD 0.16 million, will also see Solowin acquiring 190,000 ordinary shares in GPL, representing 19% of the issued and paid-up share capital of GPL. At closing, the seller will deliver the necessary documents and ensure all required filings with the Accounting and Corporate Regulatory Authority of Singapore (ACRA) are completed.

Peter Lok, Chief Executive Officer of Solowin, stated: "This investment will strengthen our licensed payment channels in the region, serving not only as the compliance baseline for Solowin to conduct payment services in Singapore and globally, but also as a strategic asset that enhances our market competitiveness, expands our business boundaries, and builds long-term trust. It is both a stepping stone to enter international markets and a fundamental safeguard supporting large-scale growth and collaboration with global partners for Solowin to layout cross-border payment and digital financial ecosystem."

References:
[1] https://www.marketscreener.com/news/solowin-holdings-entered-into-a-sale-and-purchase-agreement-to-acquire-19-stake-in-gpl-remittance-p-ce7c51dfd080f420
[2] https://www.stocktitan.net/news/SWIN/solowin-acquires-stake-in-singapore-mpi-licensed-firm-to-accelerate-wqt6svu36ggw.html
[3] https://www.globenewswire.com/news-release/2025/08/19/3135734/0/en/Solowin-Acquires-Stake-in-Singapore-MPI-Licensed-Firm-to-Accelerate-Global-Payment-Network-Expansion.html