According to Foresight News, Singapore-based blockchain financial institution XREX has been granted a Major Payment Institution (MPI) license by the Monetary Authority of Singapore (MAS). In addition, XREX Singapore is set to launch XREX Pay, a platform that provides cross-border B2B payment capabilities for businesses. The platform will support payment channels in Singapore dollars and US dollars, as well as stablecoins such as USDT and USDC.
In previous news from Foresight News, as reported by The Block, XREX had received a principal approval for the MPI license from the MAS in November 2023.