Matrixport Subsidiary Fly Wing Secures Key Singapore License

Fly Wing Technologies, a subsidiary of crypto financial services platform Matrixport , has been granted a Major Payment Institution (MPI) License by the Monetary Authority of Singapore (MAS).

The announcement , made on Wednesday by Matrixport, marks a significant regulatory milestone, enabling the company to further develop its Over-the-Counter (OTC) desk operations within Singapore’s regulated financial landscape.

The MPI License, officially issued on March 1, 2025, authorizes Fly Wing to provide regulated services encompassing cross-border money transfers and Digital Payment Token (DPT) services. This full license follows an earlier in-principle approval granted in October 2o24.

John Ge, co-founder and CEO of Matrixport, commented on the achievement, stating, “This marks a significant step in our ongoing expansion across the Asia-Pacific region. We look forward to providing high-quality Digital Payment Token services to users in Singapore.”

With the coveted MPI license secured, Fly Wing is strategically positioned for sustained growth within Singapore and the wider digital finance sector. The license provides a robust foundation for the company to innovate and expand its blockchain-driven DPT services, ensuring secure and transparent access for users entering the Web3 space.

Established in 2019, Fly Wing operates as a wholly-owned subsidiary of Matrixport. Fly Wing's OTC desk caters to a diverse institutional and high-net-worth clientele, including crypto miners, trading firms, investment houses, and individuals from both traditional finance and the digital asset world. The company facilitates substantial monthly transaction volumes exceeding $100 million, providing critical liquidity for major cryptocurrencies through its OTC services.

Singapore has issued a flurry of crypto licenses in the past week, including an MPI license to custody and trading firm Hex Trust , an in-principle approval for a Capital Markets Services (CMS) license to digital asset management firm TradeTogether , and a custodial license to on-chain RWA exchange DigiFT .