Thunes Asia receives In-Principle Approval to expand the scope of its Major Payment Institution Licence from the Monetary Authority of Singapore
Licence variation will enable Singapore merchants to accept payments from the rest of the world; global merchants to offer popular local Singapore payment methods.
Singapore, December 2 2025 – Thunes today announced that it has received In-Principle Approval (IPA) for a variation of its Major Payment Institution licence (MPI) from the Monetary Authority of Singapore.
This In-Principal Approval marks a significant milestone in Thunes’ growth journey and demonstrates the company’s commitment to being one of the most trusted and innovative fintechs operating from Singapore.
Subject to the grant of the MPI licence variation, Thunes will be positioned to expand its global offering in Singapore. This future state will empower merchants to access a wider range of payment solutions and accept payments from customers from the rest of the world using popular international and local payment methods. Specifically, this will allow Singapore merchants to accept payments via popular international methods, while also enabling global merchants in key markets across the Middle East, South Asia, Africa, and Europe to accept leading Singapore payment methods such as PayNow and GrabPay.
Today, Thunes’ Network gives its Members access to more than 320 local payment methods worldwide, enabled by our group’s portfolio of over 50 financial service licenses across the globe.
Upon the grant of the MPI licence variation, Thunes Asia will be authorised, in addition to its existing cross-border money transfer service, to provide account issuance, domestic money transfer, merchant acquisition, and e-money issuance services.
“This In-Principle Approval from MAS is a major step forward for Thunes’ global strategy and a catalyst for growth. As our global headquarters, Singapore is the center of our governance and innovation, and with this approval, we’re doubling down on our commitment to connect markets, empower merchants, and expand our trusted Direct Global Network across the world.”
Peter De Caluwe, Co-founder and CEO of Thunes Group
“Strong governance and a commitment to regulatory excellence have always been at the heart of how Thunes operates. This milestone reflects our unwavering commitment to doing business the right way. Our Thunes’ robust Fortress Compliance Platform underpins everything we do, ensuring our Members can trust every transaction that flows through our Network.”
Ruwan De Soyza, General Counsel at Thunes Group
This In-Principle Approval is a key milestone in Thunes’ leadership in building a safer, more connected global payments ecosystem that empowers businesses and consumers to transact seamlessly across borders. The company continues to work towards meeting all remaining requirements for the approval.
FOOTNOTES
An In-Principle Approval (IPA) in respect of a licence variation application reflects MAS’ view that the applicant’s licence variation application may be approved upon the fulfilment of specified conditions and provided there are no material adverse developments affecting the applicant. An IPA does not constitute an approval for the Company to provide an account issuance service; a domestic money transfer service; a merchant acquisition service; and an e-money issuance service at this juncture. MAS reserves the right to rescind the IPA in circumstances where it considers appropriate.
Contact:
WE Communications, thunes@wecommunications.com
Anna Birdsall-Strong, Director of Brand and Public Relations, anna.birdsall@thunes.com
About Thunes:
Thunes is the Smart Superhighway to move money around the world. Thunes’ proprietary Direct Global Network allows Members to make payments in real-time in over 130 countries and more than 80 currencies. Thunes’ Network connects directly to over 7 billion mobile wallets and bank accounts worldwide, as well as 15 billion cards via more than 320 different payment methods, such as GCash, M-Pesa, Airtel, MTN, Orange, JazzCash, Easypaisa, AliPay, WeChat Pay HK and many more. Thunes’ Direct Global Network differentiates itself through its worldwide reach, in-house SmartX Treasury System and Fortress Compliance Platform, ensuring Members of the Network receive unrivaled speed, control, visibility, protection, and cost efficiencies when making real-time payments, globally. Members of Thunes’ Direct Global Network include gig economy giants like Uber and Deliveroo, super-apps like Grab and WeChat, MTOs, fintechs, PSPs and banks. Headquartered in Singapore, Thunes has offices in 14 locations, including Atlanta, Barcelona, Beijing, Dubai, Hong Kong, Johannesburg, London, Manila, Nairobi, Paris, Riyadh, San Francisco and Shanghai. For more information, visit: https://www.thunes.com/
