Tranglo Secures New Approvals from MAS to Extend Service Coverage

​Singapore-based cross-border payment firm Tranglo Pte Ltd (Tranglo) announced that it has been granted new approvals from the Monetary Authority of Singapore (MAS) under the Payment Services Act (PSA), so as to deliver account issuance, domestic money transfer and e-money issuance services.

The permit to carry out the additional services are a boost to the rapidly expanding capabilities of Tranglo’s cross-border payment network, fully regulated by 4 authorities and covers over 22 countries. 

Currently, Tranglo is able to grant true seamless global payments to millions of people and businesses by routing mass payouts and instant transactions through its local supporting infrastructure.

Some of the payment corridors immediately enhanced with the new functions are the Philippines, Indonesia, Thailand, Vietnam and Singapore. Real-time payments are now fully unlocked for these countries, while full e-wallet functions are now available for the top corridors of Philippines, Indonesia and Pakistan.

Earlier in March, the blockchain company Ripplehas agreed to acquire​ 40% of Tranglo, as Fazzaco reported.