Fly Wing Technologies, a subsidiary of digital asset platform Matrixport, has obtained a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS).
The license allows Fly Wing to operate as an over-the-counter (OTC) desk for digital payment token services in Singapore.
Fly Wing handles over $100 million in monthly transactions and caters to crypto miners, trading firms, investment firms, and high-net-worth individuals.
Matrixport co-founder and CEO, John Ge, expressed excitement about the license and their expansion plans in the Asia-Pacific region.