Singapore · Payments & e-money
Thunes Asia Private Limited
Thunes Asia Pte Ltd is a private company incorporated in Singapore. It is the Singapore contracting entity of the Thunes group. The Monetary Authority of Singapore (MAS) authorises the firm as a major payment institution under the Payment Services Act 2019 to provide a cross-border money transfer service. The firm belongs to the Thunes group, whose website is operated by TTMFS Singapore Pte Ltd. It provides business-to-business cross-border payouts through the group's Direct Global Network to banks, money transfer operators, mobile wallets, payment service providers and platforms.
Licences and registrations
Held by Thunes Asia Private Limited. 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) | Major Payment InstitutionPayment Institution | Not published by the register | Singapore | Active | — | — |
|
Search the register ↗ |
- 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.
Swift network
Swift’s ISO 9362 BIC directory
Holds no BIC in Swift’s directory. No LEI is matched to this entry, and BICs are linked by LEI only.
Overview
Researched 29 Sep 2026 · Sources
Customers
Not published
Employees
Not published
Ownership
Group subsidiary
Firm type
Payment infrastructure
Trades as Thunes
- Standing
- In December 2025 MAS gave in-principle approval to vary the firm's major payment institution licence. The variation would add account issuance, domestic money transfer, merchant acquisition and e-money issuance services. The MAS directory, last updated 25 August 2026, still lists only the cross-border money transfer service.
- Ownership
- The firm is part of the Thunes group, whose website names TTMFS Singapore Pte Ltd as its operator and copyright holder, and the group is backed by venture capital and private equity investors.
- Head office
- 1 Raffles Place, #28-61 One Raffles Place Tower 2, 048616 Singapore, Singapore
- Company register
- ACRA UEN 201926675C
- Incorporated
- 2019
- Founder
- Peter De Caluwe
Online
- Websites & references
- thunes.com ↗
docs.thunes.com ↗ developer portal and API documentation (group)
businesshub.thunes.com ↗ Thunes Business Hub customer portal (group) - Official social accounts
- LinkedIn ↗
Sources · 15 pages consulted
- eservices.mas.gov.sg/fid/institution/detail/228840-THUNES-ASIA-PRIVATE-LIMITED
- thunes.com/legal-thunes-entity-table/
- thunes.com/legal-singapore-region-specific-terms/
- thunes.com/a-fully-compliant-and-regulated-network/
- thunes.com/about-us/
- thunes.com/privacy-notice/
- thunes.com/thunes-website-terms-and-conditions/
- thunes.com/news/thunes-mas-mpi-expansion/
- prnewswire.com/news-releases/thunes-asia-receives-in-principle-approval-to-expand-the-scope-of-its-major
- thunes.com/news/thunes-raises-usd-150-million-in-series-d-led-by-apis-partners-and-vitruvian-partner
- thunes.com/news/thunes-announces-agreement-to-acquire-tilia-llc/
- thunes.com/news/thunes-expands-its-leadership-to-accelerate-growth/
- fintechfutures.com/paytech/thunes-ceo-floris-de-kort-steps-down
- metropolitan.asia/thunes-appoints-guy-duncan-as-ctpo-and-parvinder-bhatia-as-cfo-to-accelerate-ai-driven-gl
- thunes.com/newsroom/
Authorisation
Researched 29 Sep 2026 · Sources
- Operates under
- Its own licences
MAS authorises the firm as a major payment institution under the Payment Services Act 2019 for a cross-border money transfer service. Other Thunes group entities hold separate licences in the UK, the EU, Hong Kong and the US.
| Authority | Licence or registration | Number | Held | Status | Source |
|---|---|---|---|---|---|
| Monetary Authority of Singapore Singapore | Major Payment Institution (Cross-border Money Transfer Service) | — | 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 accountsUnder Section 23 of the Payment Services Act, the firm states that it keeps customers' relevant money in a trust account with a safeguarding institution, separate from its own funds and pooled across customers.
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
The firm provides a cross-border money transfer service under its MAS licence. According to the group, its network reaches over 130 countries and more than 80 currencies through bank accounts, mobile wallets and cards.
The firm is the Thunes group's only entity providing payment services in Singapore or to Singapore persons, and the group states that its network pays out to more than 130 countries.
- Sells to
- Financial institutions · Platforms and marketplaces · Enterprises
- Serves customers in
- Singapore
- Latest funding round
- Series D · USD 150m Apr 2025Led by Apis Partners, Vitruvian Partners
Leadership
Researched 29 Sep 2026 · Sources
- Chief executive
- Peter De Caluwe Co-Founder, Deputy Chairman and CEO (Thunes group); MAS-listed key personnel of the firm
- Chair
- Allan Green Chairman (Thunes group board)
- Chief financial officer
- Parvinder Bhatia Chief Financial Officer (Thunes group)
- Compliance / MLRO
- Ruwan De Soyza Chief Legal & Compliance Officer (Thunes group)
- Executive
- Chloé Mayenobe Deputy CEO (Thunes group)
Recent events
Researched 29 Sep 2026 · Sources
-
Leadership
The Thunes group appointed Parvinder Bhatia as Chief Financial Officer and Guy Duncan as Chief Technology and Product Officer.
metropolitan.asia ↗ -
Licence
MAS gave the firm in-principle approval to add account issuance, domestic transfer, merchant acquisition and e-money issuance services to its licence.
thunes.com ↗ -
Leadership
The Thunes group reappointed co-founder Peter De Caluwe as CEO, succeeding Floris de Kort.
fintechfutures.com ↗ -
Funding
The Thunes group raised USD 150 million in a Series D round led by Apis Partners and Vitruvian Partners.
thunes.com ↗ -
Merger / acquisition
The Thunes group agreed to acquire US money transmitter Tilia LLC, since renamed Thunes Financial Services LLC.
thunes.com ↗ -
Leadership
The Thunes group appointed Floris de Kort as CEO and made Peter De Caluwe Deputy Chairman.
thunes.com ↗
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
- BIC
- Holds no BIC in Swift’s directory
- LEI
- No LEI mapped
- Elucidate firm ID
- cf93a645ebbc
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.
- Main licence class
- Payment Institution
- Activities
- Money remittance
- Payment services
- Licensed in
- Singapore · East Asia & Pacific
- First registered
- Not published
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
No LEI is matched to this entry, so GLEIF relationship records cannot be linked.
Addresses
- Address on the register
- 1 RAFFLES PLACE #28-61 ONE RAFFLES PLACE TOWER 2 048616, Singapore, 048616
- Country
- Singapore
ISO 20022 identification
As an agent in a Swift cross-border payment message (CBPR+)
This institution holds no BIC. A CBPR+ message identifies it by name and postal address, and may add its LEI or a clearing code.
- Identified by
- Name and postal address. No LEI or clearing code is mapped in the directory
- Postal address
- Hybrid: town, postcode and country in their own elements, the rest in two address lines
<FinInstnId>
<Nm>THUNES ASIA PRIVATE LIMITED</Nm>
<PstlAdr>
<PstCd>048616</PstCd>
<TwnNm>Singapore</TwnNm>
<Ctry>SG</Ctry>
<AdrLine>1 RAFFLES PLACE #28-61 ONE RAFFLES</AdrLine>
<AdrLine>PLACE TOWER 2 048616</AdrLine>
</PstlAdr>
</FinInstnId>- The address line repeats the town or postcode. Remove the repeat if your payment system rejects it.
CBPR+ identifies the instructing and instructed agents by BIC only. An institution without a BIC can be the debtor, creditor or an intermediary agent.
The values are as published by the register. Check them against your own records before use.
Sources & method
Register entries come from the public registers of financial regulators, standardised into one taxonomy. LEIs are matched through GLEIF, and a BIC is linked only through a shared LEI.
An institution missing from these registers is not necessarily unregulated.
Register entries are not matched against the OFAC or EU sanctions lists. Where the legal entity also holds a BIC, the matches for that BIC are on its page. Always screen against the official lists.
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 →Register for this page
- MAS Financial Institutions Directory - Major Payment Institution—Monetary Authority of Singapore (MAS) · source ↗ 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.
Assess the financial crime risk behind a licence
A licence records what an institution is authorised to do; it does not assess it. The Elucidate FinCrime Index (EFI) is an independent score of the financial crime risk of banks and payment institutions.
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