Aspire obtains in-principal approval for the MPI licence from MAS

When commenting on the announcement, representatives from Aspire mentioned that securing the MPI licence from MAS allows their company to develop a safe financial ecosystem for businesses operating across Asia and beyond. Additionally, Aspire intends to advance its partnership with MAS as it continues to assist the growth of the small and medium-sized enterprise (SME) and startup sectors in Singapore.

Furthermore, due to Singapore’s position as an international financial hub and gateway to Asia, Aspire is set to utilise the region’s regulatory environment and market landscape to deploy localised solutions that meet the specific needs, demands, and preferences of businesses while also scaling its global reach. To further assist its development strategy, Aspire made several moves to expand its presence and solutions. For example, back in May 2024, the company announced that it obtained a Money Service Operator (MSO) licence from the Hong Kong Customs and Excise Department. Through this, Aspire was allowed to offer its unified suite of financial services to SMEs in the region, with the company focusing on enabling local businesses to open accounts for payables and receivables management, international payments, and payment gateway solutions.