MAS grants PingPong in-principle Capital Markets Services licence approval in Singapore

July 06, 2026 | 14:26

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The Monetary Authority of Singapore granted PingPong Payments in-principle approval for a Capital Markets Services licence, extending the embedded financial infrastructure provider's regulatory standing in the city-state.

SINGAPORE, July 6, 2026 /PRNewswire/ -- PingPong, the embedded financial infrastructure for global businesses, has secured in-principle approval from the Monetary Authority of Singapore (MAS) for a Capital Markets Services (CMS) licence.

This CMS licence will allow PingPong to offer eligible Singapore-based clients over-the-counter FX derivatives products through its subsidiary, Mana Markets (SG) Pte. Ltd ("the Company"). Eligible Singapore-based clients will be able to hedge against foreign exchange volatility. This will complement the existing suite of payment services provided by PingPong through its licensed Major Payment Institution, Mana Payment (Singapore) Pte. Ltd. in Singapore.

Shu Jianqin, CEO of PingPong Asia Pacific and Group Partner, said: "This in-principle approval marks an exciting new chapter for PingPong across Singapore and Southeast Asia. Singapore's world-class regulatory framework, robust institutional ecosystem, and role as a global financial hub make it both a strategic home for our expansion and a powerful base for the clients we serve."

For more information, visit www.pingpongx.com

By PR Newswire

PingPong

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