Photo credit: TerraPay’s X page

TerraPay has secured a major payment institution (MPI) license from the Monetary Authority of Singapore, coming less than a year after it won preliminary approval for the same license.

With this license, the payments firm will be able to offer financial services to customers in the city-state. These include accounts issuance, domestic and cross-border remittances, merchant acquisition, and e-money distribution, according to a statement.