--- title: "Xrex PTE. LTD. · Major Payment Institution (MAS) · Singapore | Elucidate" description: "Xrex PTE. LTD. is authorised by Monetary Authority of Singapore (MAS) as a major payment institution in Singapore. LEI 2549000QE6HHWJLNL230. Register status, licences, activities and ownership." url: https://elucidate.co/directory/xrex-pte-ltd-da7af7b2e1b7 --- 1. [Directory](https://elucidate.co/directory) 2. [Singapore](https://elucidate.co/directory/country/sg) 3. Xrex PTE. LTD. Singapore · Payments & e-money # Xrex PTE. LTD. XREX Pte. Ltd. is a Singapore-incorporated company. The Monetary Authority of Singapore (MAS) licenses it as a major payment institution under the Payment Services Act 2019 for six payment services, including digital payment token services. It is a subsidiary of XREX Inc., the Cayman Islands holding company of XREX Group, which has its headquarters in Taipei. Trading as XREX Singapore, it offers businesses the XREX Pay app for fiat and stablecoin payments, crypto-fiat conversion and the BitCheck escrow payment feature. Register status Licensed in Singapore Major Payment Institution · Monetary Authority of Singapore (MAS) Prudential licence [2 licences and registrations ↓](https://elucidate.co/directory/xrex-pte-ltd-da7af7b2e1b7#licences) BIC **No BIC** LEI **[2549000QE6HHWJLNL230](https://search.gleif.org/#/record/2549000QE6HHWJLNL230)** [Licence no. **Not published by the register**](https://elucidate.co/directory/xrex-pte-ltd-da7af7b2e1b7#licences) ## Licences and registrations Held by Xrex PTE. LTD. (LEI 2549000QE6HHWJLNL230). 2 entries on 2 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 Institution](https://elucidate.co/directory/register/mas-mpi) Monetary Authority of Singapore (MAS) | Major Payment InstitutionPayment Institution | Not published by the register | [Singapore](https://elucidate.co/directory/country/sg) | Active | — | — | - Money remittance - Payment services - Card acquiring - E-money / stored value - Crypto-assets | [Search the register ↗](https://eservices.mas.gov.sg/fid) | | [MSB Registrant Search](https://elucidate.co/directory/register/fincen-msb) FinCEN | —Money Transmitter / Remittance | Not published by the register | [United States](https://elucidate.co/directory/country/us) | Active | 2026-03-17 | — | - Money remittance - Currency exchange | [Search the register ↗](https://www.fincen.gov/msb-registrant-search) | - 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. Its LEI is not mapped to a BIC in the Swift and GLEIF BIC-to-LEI relationship file. ## Overview Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/xrex-pte-ltd-da7af7b2e1b7#overview-sources) Customers Not published Employees Not published Ownership Group subsidiary XREX INC. Firm type FX and business payments Trades as XREX Singapore - **Ownership:** XREX Inc., a Cayman Islands company that heads XREX Group, is the firm's direct and ultimate parent according to its LEI record. - **Direct parent:** [XREX INC. ↗](https://search.gleif.org/#/record/254900ALNH0Q0GAVXS02), Cayman Islands - **Head office:** 12 Marina View, #10-23, Asia Square Tower 2, 018961 Singapore, Singapore - **Founders:** Wayne Huang · Winston Hsiao ### Online - **Websites & references:** [xrex.io ↗](https://xrex.io/sg) [info.xrex.sg ↗](https://info.xrex.sg/) legal agreements and terms of XREX Pte. Ltd. [xrex.sg ↗](https://xrex.sg/) Singapore domain linked from the group's announcements [xrex.io ↗](https://xrex.io/) XREX Group website - **Official social accounts:** None found Sources · 11 pages consulted 1. [eservices.mas.gov.sg/fid/institution/detail/420528-XREX-PTE-LTD](https://eservices.mas.gov.sg/fid/institution/detail/420528-XREX-PTE-LTD) 2. [info.xrex.sg/doc/llms-full.txt](https://info.xrex.sg/doc/llms-full.txt) 3. [info.xrex.sg/doc/xrex-user-legal-agreements/xrex-general-terms-and-conditions.md](https://info.xrex.sg/doc/xrex-user-legal-agreements/xrex-general-terms-and-conditions.md) 4. [info.xrex.sg/doc/xrex-user-legal-agreements/xrex-general-terms-and-conditions/3.-services-and-fees.md](https://info.xrex.sg/doc/xrex-user-legal-agreements/xrex-general-terms-and-conditions/3.-services-and-fees.md) 5. [info.xrex.sg/doc/xrex-user-legal-agreements/xrex-general-terms-and-conditions/1.-account.md](https://info.xrex.sg/doc/xrex-user-legal-agreements/xrex-general-terms-and-conditions/1.-account.md) 6. [xrex.io/sg](https://xrex.io/sg) 7. [xrex.io/tw/en/blog/announcements/xrex-mas-mpi-announcement-en/](https://xrex.io/tw/en/blog/announcements/xrex-mas-mpi-announcement-en/) 8. [prnewswire.com/news-releases/xrex-singapore-receives-mas-major-payment-institution-licence-302142169.htm](https://www.prnewswire.com/news-releases/xrex-singapore-receives-mas-major-payment-institution-licence-302142169.html) 9. [tether.io/news/tether-invests-18-75m-in-xrex-group-to-drive-financial-inclusion-in-emerging-markets](https://tether.io/news/tether-invests-18-75m-in-xrex-group-to-drive-financial-inclusion-in-emerging-markets/) 10. [prnewswire.com/apac/news-releases/clarity-act-stalls-stablecoin-industry-comes-of-age-xrex-group-hosts-s](https://www.prnewswire.com/apac/news-releases/clarity-act-stalls-stablecoin-industry-comes-of-age-xrex-group-hosts-stablecoin-summit-2026-in-singapore-with-curve-and-bridge-302892225.html) 11. [prnewswire.com/apac/news-releases/stablecoin-summit-2026-by-xrex-group-returns-to-singapore-as-stablecoi](https://www.prnewswire.com/apac/news-releases/stablecoin-summit-2026-by-xrex-group-returns-to-singapore-as-stablecoins-mature-into-a-financial-infrastructure-302874544.html) ## Authorisation Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/xrex-pte-ltd-da7af7b2e1b7#overview-sources) - **Operates under:** Its own licences MAS licenses the firm as a major payment institution for six services: account issuance, domestic money transfer, cross-border money transfer, merchant acquisition, e-money issuance and digital payment token services. The firm also states that it is registered with the US Financial Crimes Enforcement Network (FinCEN) as a money services business. | Authority | Licence or registration | Number | Held | Status | Source | | --- | --- | --- | --- | --- | --- | | Monetary Authority of Singapore Singapore | Major Payment Institution (account issuance, domestic money transfer, cross-border money transfer, merchant acquisition, e-money issuance and digital payment token services) | — | In its own name | Active | [eservices.mas.gov.sg ↗](https://eservices.mas.gov.sg/fid/institution/detail/420528-XREX-PTE-LTD) | | Financial Crimes Enforcement Network United States | Money Services Business registration (money transmitter) | — | In its own name | Active | — | 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](https://elucidate.co/directory/xrex-pte-ltd-da7af7b2e1b7#overview-sources) - **Safeguarding:** Segregated safeguarding accountsThe firm's terms state that it holds customers' fiat money in a designated trust bank account at a bank in Singapore and holds customers' digital payment tokens in a trust account. It does not name the bank or the custodian. [info.xrex.sg ↗](https://info.xrex.sg/doc/llms-full.txt) - **Crypto-asset custody:** Held by the firmThe firm provides deposit, custody, conversion and transfer of digital payment tokens through a hosted XREX E-Wallet. Its terms state that customers' tokens are held in a trust account maintained with a safeguarding person, which the terms do not name. [info.xrex.sg ↗](https://info.xrex.sg/doc/llms-full.txt) 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](https://elucidate.co/directory/xrex-pte-ltd-da7af7b2e1b7#overview-sources) - International money transfer - Crypto on- and off-ramp - Crypto payments - Crypto custody - Domestic payments - E-money wallet Through the XREX Pay app, the firm provides cross-border B2B payment settlement in USD, SGD and stablecoins, crypto-fiat conversion, digital payment token custody, the BitCheck escrow feature and the Paylynk payment-collection service. The firm operates from Singapore under its MAS licence. It says it focuses on businesses in or dealing with emerging markets, and it excludes applicants from jurisdictions on its restricted list. - **Sells to:** Small businesses · Enterprises · Consumers - **Serves customers in:** Singapore - **Latest funding round:** Strategic investment (up round) · USD 18.8m Jun 2024 Led by Tether [tether.io ↗](https://tether.io/news/tether-invests-18-75m-in-xrex-group-to-drive-financial-inclusion-in-emerging-markets/) ## Leadership Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/xrex-pte-ltd-da7af7b2e1b7#overview-sources) - **Chief executive:** Christopher Chye (Chye Nyit Fhen) Chief Executive Officer, XREX Singapore Confirmed 29 Sep 2026 · [eservices.mas.gov.sg ↗](https://eservices.mas.gov.sg/fid/institution/detail/420528-XREX-PTE-LTD) - **Founder:** Wayne Huang Co-founder and Group CEO, XREX Group Confirmed 29 Sep 2026 · [prnewswire.com ↗](https://www.prnewswire.com/apac/news-releases/clarity-act-stalls-stablecoin-industry-comes-of-age-xrex-group-hosts-stablecoin-summit-2026-in-singapore-with-curve-and-bridge-302892225.html) - **Founder:** Winston Hsiao Co-founder and Group Chief Revenue Officer, XREX Group Confirmed 10 Sep 2026 · [prnewswire.com ↗](https://www.prnewswire.com/apac/news-releases/stablecoin-summit-2026-by-xrex-group-returns-to-singapore-as-stablecoins-mature-into-a-financial-infrastructure-302874544.html) ## Recent events Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/xrex-pte-ltd-da7af7b2e1b7#overview-sources) 1. Jun 2024 Funding Tether announced a USD 18.75 million strategic investment in XREX Group, the firm's parent group. [tether.io ↗](https://tether.io/news/tether-invests-18-75m-in-xrex-group-to-drive-financial-inclusion-in-emerging-markets/) 2. May 2024 Licence MAS granted the firm a major payment institution licence covering six payment services, including digital payment token services. [prnewswire.com ↗](https://www.prnewswire.com/news-releases/xrex-singapore-receives-mas-major-payment-institution-licence-302142169.html) 3. Nov 2023 Licence MAS gave the firm in-principle approval for a major payment institution licence. [xrex.io ↗](https://xrex.io/tw/en/blog/announcements/xrex-mas-mpi-announcement-en/) 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:** [2549000QE6HHWJLNL230 ↗](https://search.gleif.org/#/record/2549000QE6HHWJLNL230) - **How the LEI was matched:** Matched by Elucidate to GLEIF on name, country and address - **Elucidate firm ID:** da7af7b2e1b7 - **Merged register entry:** 377ba20b81d0 · FINCEN-MSB ## Profile - **Type:** Payments & e-money · Crypto · Money service business - **Regulation:** Prudential licence - **Main licence class:** Payment Institution - **Activities:** - Money remittance - Payment services - Card acquiring - E-money / stored value - Crypto-assets - **Licensed in:** [Singapore](https://elucidate.co/directory/country/sg) · 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 - **Direct parent:** Xrex Inc. · Cayman Islands[254900ALNH0Q0GAVXS02 ↗](https://search.gleif.org/#/record/254900ALNH0Q0GAVXS02) Group membership follows the accounting-consolidation relationships reported to GLEIF. It does not show ownership shares or control. ## Addresses - **Address on the register:** 12 MARINA VIEW, #10-23, ASIA SQUARE TOWER 2 018961, Singapore, 018961 - **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, with its LEI - **Postal address:** Hybrid: town, postcode and country in their own elements, the rest in two address lines ```xml 2549000QE6HHWJLNL230 XREX PTE. LTD. 018961 Singapore SG 12 MARINA VIEW, #10-23 ASIA SQUARE TOWER 2 018961 ``` - 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. ## Related institutions ### Other payments & e-money institutions in Singapore - [Atlas Consolidated PTE. LTD. · trading as Hugo No BIC Payments & e-money Money service business Prudential licence Singapore · Licensed by Monetary Authority of Singapore (MAS) (MAS-MPI) · also on FINCEN-MSB · LEI 9845005BPECFKD4ED973](https://elucidate.co/directory/atlas-consolidated-pte-ltd-dd9bff35ebe7) - [Triple A Technologies PTE. LTD. · trading as TripleA No BIC Payments & e-money Crypto Money service business Prudential licence Singapore · Licensed by Monetary Authority of Singapore (MAS) (MAS-MPI) · also on FINCEN-MSB · LEI 984500DA4B5DE9599547](https://elucidate.co/directory/triple-a-technologies-pte-ltd-35777ab55bbd) - [Jst Digital Trading & Technology PTE. LTD. No BIC Payments & e-money Crypto Money service business Prudential licence Singapore · Licensed by Monetary Authority of Singapore (MAS) (MAS-MPI) · also on FINCEN-MSB · LEI 254900VFSNIDSSI4MR30](https://elucidate.co/directory/jst-digital-trading-and-technology-pte-ltd-0b04a7881932) - [Paxos Global PTE. LTD. No BIC Payments & e-money Crypto Money service business Prudential licence Singapore · Licensed by Monetary Authority of Singapore (MAS) (MAS-MPI) · also on FINTRAC-MSB · LEI 254900HKUGCSEE1Z8626](https://elucidate.co/directory/paxos-global-pte-ltd-f0e62912b4de) - [Ripple Markets Apac PTE. LTD. No BIC Payments & e-money Crypto Money service business Prudential licence Singapore · Licensed by Monetary Authority of Singapore (MAS) (MAS-MPI) · also on FINCEN-MSB · LEI 98450060F9F56F87ED90](https://elucidate.co/directory/ripple-markets-apac-pte-ltd-05ecaf0d5a45) - [Stonex Financial Pte. Ltd. BIC IGLUSGSG Payments & e-money Prudential licence Singapore · Licensed by Monetary Authority of Singapore (MAS) (MAS-MPI) · LEI 984500C5005644B14P13](https://elucidate.co/directory/stonex-financial-pte-ltd-iglusgsg) - [2C2P Pte. Ltd. No BIC Payments & e-money Prudential licence Singapore · Licensed by Monetary Authority of Singapore (MAS) (MAS-MPI) · No LEI mapped](https://elucidate.co/directory/2c2p-pte-ltd-4eb1a068b1fb) - [Adyen Singapore PTE. LTD. No BIC Payments & e-money Prudential licence Singapore · Licensed by Monetary Authority of Singapore (MAS) (MAS-MPI) · LEI 2549002DRA0AZCKXUY44](https://elucidate.co/directory/adyen-singapore-pte-ltd-8788af5f9e05) [See all →](https://elucidate.co/directory/search?type=payments&cc=SG) [Other entries on MAS-MPI →](https://elucidate.co/directory/register/mas-mpi) 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 →](https://elucidate.co/directory/methodology) Registers for this page - **MAS Financial Institutions Directory - Major Payment Institution**—Monetary Authority of Singapore (MAS) · [source ↗](https://eservices.mas.gov.sg/fid) as at 25 September 2026 - **MSB Registrant Search**—Financial Crimes Enforcement Network (FinCEN) · [source ↗](https://www.fincen.gov/msb-registrant-search) as at 24 September 2026 - **Ownership and group**—GLEIF Level 2 relationship records (accounting consolidation), matched by LEI. - **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)](https://elucidate.co/ratings) is an independent score of the financial crime risk of banks and payment institutions. [Book a demo](https://elucidate.co/demo-request) Licence and registration data are drawn from the public registers of the regulators named on each page and shown for information only; the official register is always the authority. LEIs and ownership are from GLEIF. Directory and gpi data are drawn from SWIFT's public sources. SWIFT, Swift gpi and UETR are trademarks of S.W.I.F.T. SC, Avenue Adèle 1, 1310 La Hulpe, Belgium. Elucidate is not affiliated with, endorsed by or sponsored by SWIFT or any regulator named here. Elucidate does not provide payment or other financial services.