Skyee Pte. Ltd. has on Monday announced that it has been granted in-principle approval (IPA) for the major payment institution (MPI) license from the Monetary Authority of Singapore (MAS).

Skyee said in a statement that if obtained, the MPI license will allow the firm to service its Singapore market, further enhancing the payment experience for cross-border sellers, streamlining payment processing, increasing efficiency, and reducing operational costs through account issuance, domestic money transfer, cross-border money transfer, merchant acquisition, and e-money services.

Based in Guangzhou, China, Skyee is a cross-border payment technology company with offices in Hangzhou, Shenzhen, Hong Kong, Singapore, Los Angeles, London, Tokyo, and Canada.

Dedicated to providing innovative payment solutions for users with cross-border funding needs. the firm offers safe and convenient global cross-border payment services for various sizes of overseas merchants through its self-developed payment platform.

It provides personalized solutions for more than twenty global payment scenarios to enhance payment efficiency and user experience, meeting diverse payment needs.

Skyee is a wholly owned subsidiary of Skyee Group, a Chinese leading cross border payment solution provider in China, Europe, North America and North Asia.

Skyee Group, established in 2016, has been linking the global financial network, building a new payment system, and providing all-around convenience for cross-border fund transfers.

Skyee’s receipt of the IPA from MAS underscores its strong reputation as a responsible digital financial technology company.

By continuously optimizing its products and services, Skyee Group has secured strategic investment from Lakala Payment Group, China’s first A-share listed third-party payment company, and has become a member of its group.

Kozen Tan, Chief Executive Officer of Skyee Singapore who has spearheaded and actively drive the acquisition of this license, stated that being granted this IPA from the MAS is a big milestone for Skyee, especially as the firm expands its reach and payment services across geographical borders, solidifying its position in one of the most significant financial markets globally.

This announcement follows Skyee Group track record and contributions to the emerging internet-based global financial system, further cementing its position as a trusted and well-regulated operator.

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