Aspire receives IPA for the Major Payment Institution license

This supports the company's goal to build a user-friendly financial platform.

Aspire has acquired an in-principle approval (IPA) for the Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS).

According to the company, the IPA fuels its efforts to develop a user-centric finance stack for the global economy.

"Securing the In-Principle Approval for the MPI license from MAS is a significant validation of our commitment to building a robust and secure financial ecosystem for businesses across Asia and beyond," said Aspire CEO Andrea Baronchelli.

"We look forward to deepening our collaboration with MAS as we continue to drive innovation and growth for the SME and startup ecosystems in the region.” he added.

Aspire said it is positioned to leverage Singapore’s regulatory environment and market landscape to deploy localised solutions that fit Singaporean businesses.