Skyee Receives In-Principle Approval (IPA) for Major Payment Institution License (MPI) from the Monetary Authority of Singapore (MAS)

SINGAPORE,Jan. 13, 2025/PRNewswire/ -- Skyee Pte. Ltd. ("Skyee") is excited to announce that it has been granted In-Principle Approval (IPA) for the Major Payment Institution (MPI) license from the Monetary Authority ofSingapore(MAS). Skyee is a wholly owned subsidiary of Skyee Group a Chinese leading cross border payment solution provider inChina,Europe,North AmericaandNorth Asia. If obtained, the MPI license will allow Skyee to service itsSingaporemarket, 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.

Skyee Group, established in 2016, has consistently adhered to its mission of"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'sfirst A-share listed third-party payment company, and has become a member of its group.

Kozen Tan, CEO of Skyee Singapore has spearheaded and actively drive the acquisition of this license and stated,"Being granted this IPA from the Monetary Authority ofSingaporeis a big milestone for Skyee, especially as we expand our reach and payment services across geographical borders, solidifying our 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.

About Skyee:Based inGuangzhou, China, Skyee is a cross-border payment technology company with offices inHangzhou,Shenzhen,Hong Kong,Singapore,Los Angeles,London,Tokyo, andCanada. Dedicated to providing innovative payment solutions for users with cross-border funding needs. Skyee offers safe and convenient global cross-border payment services for various sizes of overseas merchants through its self-developed payment platform. Skyee provides personalized solutions for more than twenty global payment scenarios to enhance payment efficiency and user experience, meeting diverse payment needs.

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SOURCE Skyee Pte. Ltd