Singapore · Payments & e-money
Opal Fintech Pte LTD
Legal name in the LEI recordOPAL FINTECH PTE. LTD.
OPAL Fintech Pte. Ltd. is a private limited company incorporated in Singapore and formerly named Kanz Remit Pte. Ltd. The Monetary Authority of Singapore (MAS) licenses it as a Major Payment Institution under the Payment Services Act 2019. The licence covers account issuance, domestic money transfer, cross-border money transfer and e-money issuance. Trading as OPAL, it offers multi-currency business accounts, foreign exchange and domestic and international payments to small and medium-sized enterprises (SMEs) engaged in trade.
Licences and registrations
Held by Opal Fintech Pte. Ltd. (LEI 984500E9853D1B2CAF18). 1 entry on 1 of the 22 tracked registers, retrieved 25 September 2026.
| Register | Licence | Number | Jurisdiction | Status | Registered | Ends | Activities | Register entry |
|---|---|---|---|---|---|---|---|---|
| MAS Financial Institutions Directory - Major Payment InstitutionMonetary Authority of Singapore (MAS)Linked by LEI. Matched by Elucidate to GLEIF on name, country and address. | Major Payment InstitutionPayment Institution | Not published by the register | Singapore | Active | — | — |
|
Search the register ↗ |
Trading names on the register: Opal (MAS-MPI)
- Licences belong to the legal entity, not to a BIC.
- Each licence applies in the country of the regulator that granted it.
- Registers are tracked in 37 countries. Licences granted elsewhere are not recorded here.
- The register entries and their trading names were not matched against sanctions lists. The sanctions facts on this page cover the BIC and its LEI only.
Swift network
Swift’s ISO 9362 BIC directory
- BIC
- KARPSGS2XXX head office
- Connection to Swift
- Reverse billingThe institution is connected to Swift. Messages sent to it are billed to the institution, not to the sender. The “2” in the eighth character of KARPSGS2 marks reverse billing.
- Swift GPI
- Not on the member list
- Payment schemes and systems
- No entry in the EPC registers, the ECB T2 and TIPS lists or the SIX Bank Master cites this BIC
- Branch codes
- None: head-office BIC only
- BIC first registered
- 2020-09-26
- Last updated
- 2022-07-26
Overview
Researched 29 Sep 2026 · Sources
Customers
Not published
Employees
Not published
Ownership
Not published
Firm type
FX and business payments
Trades as OPAL
- Standing
- The firm was formerly named Kanz Remit Pte. Ltd. The MAS Financial Institutions Directory, last updated 25 August 2026, lists it as a Major Payment Institution trading as Opal.
- Head office
- 25 Ubi Road 4, #03-05, UBIX, 408621 Singapore, Singapore
- Company register
- ACRA UEN 201929437M
- Incorporated
- 2019
- Founder
- Zvi Appel
- Former name
- KANZ REMIT PTE. LTD.
Online
- Websites & references
- opalpayment.com ↗ did not load when checked
- Official social accounts
- LinkedIn ↗
Sources · 6 pages consulted
- eservices.mas.gov.sg/fid/institution/detail/229066-OPAL-FINTECH-PTE-LTD
- exhibitor-manual-004.s3.ap-south-1.amazonaws.com/Production/exb_doc/2023/31982/Discover_Opal_Offerings.pdf
- opalpayment.com/legal-center/terms-and-conditions-2/
- currencycloud.com/company/case-study/opal-and-currencycloud-enable-smes-with-fast-seamless-b2b-payment-acro
- mas.gov.sg/regulation/enforcement/enforcement-actions/2025/mas-imposes-composition-penalties-against
- theedgesingapore.com/news/anti-money-laundering/mas-imposes-composition-penalties-totalling-960000-five-major-
Authorisation
Researched 29 Sep 2026 · Sources
- Operates under
- Its own licences
MAS licenses the firm as a Major Payment Institution under the Payment Services Act 2019. The licence covers account issuance, domestic money transfer, cross-border money transfer and e-money issuance services.
| Authority | Licence or registration | Number | Held | Status | Source |
|---|---|---|---|---|---|
| Monetary Authority of Singapore Singapore | Major Payment Institution Licence (account issuance, domestic money transfer, cross-border money transfer, e-money issuance) | PS2020022 | In its own name | Active | eservices.mas.gov.sg ↗ |
Licences and registrations the research found, at home and abroad, as the firm and its regulators publish them. The Licences and registrations card shows the entries on the registers the directory tracks.
Partners and safeguarding
Researched 29 Sep 2026 · Sources
- Safeguarding
- Segregated safeguarding accountsAn earlier version of the firm's terms says customer money goes into a segregated account with a Singapore bank, held on trust for customers.
- Payment schemes and card networks
- Swift Access not stated exhibitor-manual-004.s3.ap-south-1.amazonaws.com ↗
FAST (Singapore) Access not stated exhibitor-manual-004.s3.ap-south-1.amazonaws.com ↗
PayNow Access not stated exhibitor-manual-004.s3.ap-south-1.amazonaws.com ↗
MEPS+ Access not stated exhibitor-manual-004.s3.ap-south-1.amazonaws.com ↗
Banks and regulated firms the firm says hold its customers’ money, issue its cards, sponsor its accounts or settle its payments, as it discloses them in its terms and notices.
Products and markets
Researched 29 Sep 2026 · Sources
According to its brochure, OPAL serves only businesses. It offers accounts in business-named form holding up to 27 currencies, Swift transfers, and payouts on Singapore's FAST system and on local rails in 17 other countries.
The firm serves business customers from Singapore under its MAS licence. It states that it pays out through Swift and local payment rails abroad.
- Sells to
- Small businesses · Enterprises
- Serves customers in
- Singapore
Leadership
Researched 29 Sep 2026 · Sources
- Chief executive
- Zvi Appel Co-founder and Chief Executive Officer
Recent events
Researched 29 Sep 2026 · Sources
The research found no fines, investigations, security incidents, licence changes or corporate events from the last three years.
Compliance-relevant events of the last three years, newest first: fines and enforcement, investigations, security incidents, licence changes, funding rounds, acquisitions and leadership changes. Each links to its source.
Identifiers
Head-office record
- BIC
- KARPSGS2XXX
- How the BIC breaks down
- KARPBank
- SGCountry · Singapore
- S2Location · reverse billing
- XXXBranch · head office
- Branch description
- Not recorded in the directory
- LEI
- 984500E9853D1B2CAF18
- LEI record
- View on GLEIF ↗
- How the LEI was matched
- BIC: Mapped to this BIC in the Swift and GLEIF BIC-to-LEI relationship file.Register entry: Matched by Elucidate to GLEIF on name, country and address.
- Register-entry ID
- 63cb0807b99e
Profile
- Type
- Payments & e-moneyPayment institutions, e-money and stored-value issuers, and account-information providers. Licensed under payment-services law (e.g. PSD2 in the EU and UK, the Payment Services Act in Singapore). Taken from the licences on the tracked registers.
- Regulation
- Prudential licenceAuthorised with capital, safeguarding and conduct requirements, e.g. an authorised payment or e-money institution in the EU or UK, a major payment institution in Singapore, or a MiCA crypto-asset service provider.
- Register licences
- 1 entry on 1 register
- Activities
- Money remittance
- Payment services
- E-money / stored value
- Licensed in
- Singapore
- Website (register)
- www.opalpayment.com ↗
- Country · region
- Singapore · East Asia & Pacific
- Trading venues (MIC)
- No MIC registered under this LEI list of 2026-09-17
- OFAC sanctions
- No listing cites this BIC
- EU sanctions
- No listing matched this BIC or its LEI
- Country sanctions
- No country programme
Types come from Swift’s BIC classification, the licences on the 22 tracked registers, and the ECB and FSB bank lists. Most banks outside the euro area appear as financial institutions, because their supervisors’ registers are not tracked yet.
Ownership and group
GLEIF relationship records
GLEIF’s relationship records name no parent for this LEI, and no group page is published for it.
Addresses
- Registered address
- SINGAPORE SHOPPING CENTRE 190 CLEMENCEAU AVENUE SINGAPORE 239924 SINGAPORE
- Operational address
- 10 UBI CRESCENT SINGAPORE SINGAPORE 408564 SINGAPORE
ISO 20022 identification
As an agent in a Swift cross-border payment message (CBPR+)
A CBPR+ message identifies this institution by its BIC, and may add its LEI or a clearing code. CBPR+ does not allow a name and postal address next to a BIC.
- Identified by
- BIC, with its LEI
- Roles in CBPR+
- Any agent, including the instructing and instructed agents
CBPR+
For cross-border payments on Swift: the BIC, with the LEI and clearing code where known
<FinInstnId>
<BICFI>KARPSGS2XXX</BICFI>
<LEI>984500E9853D1B2CAF18</LEI>
</FinInstnId>Full record
Every ISO 20022 element the directory holds. Base ISO 20022 allows them together. CBPR+ does not allow a name and address next to a BIC
<FinInstnId>
<BICFI>KARPSGS2XXX</BICFI>
<LEI>984500E9853D1B2CAF18</LEI>
<Nm>OPAL FINTECH PTE LTD</Nm>
<PstlAdr>
<TwnNm>SINGAPORE</TwnNm>
<Ctry>SG</Ctry>
<AdrLine>SINGAPORE SHOPPING CENTRE 190 CLEMENCEAU AVENUE SINGAPORE 239924</AdrLine>
</PstlAdr>
</FinInstnId>The BIC, name and address are as published in Swift’s BIC directory. The LEI comes from the Swift and GLEIF BIC-to-LEI file. Check them against your own records before use.
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Sources & method
Every value comes from a public source, such as Swift’s ISO 9362 BIC directory, GLEIF or the OFAC and EU sanctions lists. Most sources are matched on a BIC or an LEI, not on a name.
Swift GPI membership is matched on names and is indicative. A missing sanctions match does not mean that no listing applies. Always screen against the official lists.
Register entries are not screened against sanctions lists. The sanctions facts on this page cover the BIC and its LEI only.
An institution is one entry in the directory: a BIC8 in Swift’s directory, or a firm on a tracked register that holds no BIC. Licences held by an institution with a BIC are shown on its page.
Read the methodology →Credits for this page
- MAS Financial Institutions Directory - Major Payment Institution—Monetary Authority of Singapore (MAS) · register ↗ as at 25 September 2026
- Overview, authorisation, partners, products, leadership and events—researched per institution by an AI model with web search, from the firm's own website, terms and filings, regulators' registers and notices, company registers and news. Licences, partners, figures, people and events link to their source, and each card shows the research date. AI research can be wrong or out of date, so check key facts at the source.
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