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TranSwap received Electronic Money Institution (EMI) authorisation in the UK
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TranSwap, a Singapore-based FinTech and Cyberport start-up that helps businesses trade globally, has received authorisation from the Financial Conduct Authority (FCA) to conduct payment activities as an Electronic Money Institution (EMI) in the United Kingdom.
This EMI authorisation from the UK adds to TranSwap’s existing licences in major Asian markets, including Singapore, Hong Kong and Indonesia, and marks a significant milestone in its global expansion plans.
The EMI authorisation allows TranSwap to offer its comprehensive suite of services, including global payments and collections, borderless digital wallets, cards & spend management, platform-as-a-Service (PaaS) to businesses in the UK, opening up a new market. With its licensed subsidiaries working together in major financial hubs, as well as its Global R&D Center in Edinburgh, TranSwap is well positioned to provide cutting edge fintech services for its customers globally.
To facilitate UK-APAC trade and investment activities through technology, UK customers can now enjoy high speed and low-cost access to cross-border payments and collections in the vibrant Asian continent, while Asian customers can expand their business overseas and do business like a local in the UK market.
TranSwap took part in the Cyberport FinTech delegation to London in 2019 and has successfully connected with UK government officials and industry stakeholders. This licence marks a significant step in its expansion to the UK market. It also proves that Hong Kong start-ups have the capability to build a foothold beyond Hong Kong market.
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Hong Kong Cyberport Management Company Ltd
香港數碼港管理有限公司
Level 6, Cyberport 2, 100 Cyberport Road, Hong Kong
香港數碼港道100號數碼港二座6樓
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