Monetary Authority of Singapore issues Korea's first payment token license for FOMOPay financial institutions

On September 1, it was announced that Singapore-based financial technology company FOMO Pay had been approved by the Monetary Authority of Singapore MAS to provide digital payment token services. This is the first time Seoul has received such approval from 170 applicants. FOMO Pay has announced that in the future it will be able to integrate three management systems: business services, home delivery services and DPT digital token payment services for cryptocurrency. The DPT service provider license allows executives to support transactions with cryptocurrencies and digital payment tokens including CBDC, the Central Bank of Singapore in the near future. The company had previously received a cross-border transfer license. FOMO Pay was launched in 2017 to help online and offline merchants connect to digital payments, including e-wallets and credit cards. Today, the company serves over 10,000 merchants across retail, communications, marketing and hospitality, FB food and beverage, education, and commerce applications. electronic marketing. (Forecast)