Thunes has announced that it has obtained In-Principle Approval (IPA) to scale the scope of its Major Payment Institution (MPI) licence from the Monetary Authority of Singapore (MAS).
Obtaining this IPA comes as a key milestone in Thunes’ development strategy and underlines the company’s commitment to positioning itself among the advanced fintechs operating from Singapore.
Global offering to be available in Singapore
Still subject to receiving the MPI licence variation, Thunes is set to be enabled to scale its global offering in Singapore. After obtaining this, the company will be able to provide merchants with the ability to access a wider range of payment solutions and accept payments from customers outside of Singapore, leveraging widely used international and local payment methods.
More precisely, this will allow Singapore merchants to accept payments through popular international methods while also supporting global businesses in markets across the Middle East, South Asia, Africa, and Europe to accept Singapore payment methods such as PayNow and GrabPay.
Currently, Thunes’ Network offers its Members access to over 320 local payment methods globally, supported by the group’s portfolio of more than 50 financial service licences. Following the receipt of the MPI licence variation, Thunes Asia is set to be authorised, besides its existing cross-border money transfer service, to deliver account issuance, domestic money transfer, merchant acquisition, and e-money issuance services.
Furthermore, the IPA advances Thunes’ mission to develop a safer, more connected global payment ecosystem that enables businesses, as well as consumers, to transact more optimally and efficiently across borders.
The news comes after several significant milestones for Thunes, with the company recently entering multiple partnerships with industry players to further augment cross-border payments at a global level. Just in November 2025, Thunes teamed up with MoMo PSB, First Abu Dhabi Bank, Mashreq, Mastercard, and Ecobank. During the same period, Thunes also rolled out account top-up and withdrawal solutions to connect digital asset platforms with TradFi, enabling them to expand beyond borders.
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