Singapore-based payment institution and Ripple partner FOMO Pay has taken a significant step by obtaining a Money Services Operator (MSO) License from the Hong Kong government. This new license allows FOMO Pay to enter the payment and remittance services sectors in Hong Kong’s live business environment and strengthen its position as a key player in the financial sector.
Obtaining the MSO License aligns with FOMO Pay’s vision of building an integrated financial ecosystem. The company aims to provide payment and remittance services that accelerate the growth of businesses and individuals.
Thanks to licenses obtained from the Monetary Authority of Singapore (MAS), the company can offer a range of financial services including domestic and international money transfers and merchant acquisition. FOMO Pay being the first firm in Singapore to receive MAS approval for digital payment token services reflects its commitment to being at the forefront of financial innovations.
Allen Vincent, the manager of FOMO Pay, shared his insights on the company’s future direction, stating their dedication to providing extraordinary solutions that catalyze business growth and building an integrated financial ecosystem.
Obtaining the MSO License positions FOMO Pay as a significant player in the development of Hong Kong’s financial landscape. The company’s commitment to innovation and expanded capabilities will resonate in the Hong Kong business world, inviting individuals and businesses to explore FOMO Pay’s advanced payment and remittance solutions.