MAS grants MPI license to Banking Circle 12 November 2025Singapore Reporter: Tahlia Kraefft
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Banking Circle has announced its wholly owned subsidiary, BC Payments Singapore, has been granted a Major Payment Institution (MPI) license by the Monetary Authority of Singapore (MAS).
With the new license, BC Payments Singapore is now fully licensed to facilitate frictionless, scalable, and compliant cross-border payment flows for banks, fintechs and global payment providers in Singapore.
BC Payments Singapore has expanded its local presence and capabilities, leveraging Banking Circle’s global clearing infrastructure to connect international financial institutions with local clearing rails through a single API.
Mishal Ruparel, chief commercial officer of Banking Circle, comments: “Securing the MPI license from MAS is a crucial progression in Banking Circle’s mission to build the payments infrastructure for the global financial economy.
“Singapore’s progressive regulatory framework and status as a leading global financial centre make it the natural base for our regional expansion and a strategic hub for our Asia Pacific operations. With this license, we are well placed to support our clients’ global payment needs and accelerate instant, low-cost payments in the region.”
Marc Chua, CEO of BC Payments Singapore, adds: “Since its establishment in 2022, BC Payments has grown into an integral part of Banking Circle’s global network and now serves as its Asia Pacific hub.
“Singapore’s proximity to fast-growing digital economies enables us to stay ahead of client needs, and this achievement marks just the beginning of our journey to further strengthen cross-border payment connectivity.”
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