PingPong, the embedded financial infrastructure for global businesses, has secured in-principle approval from the Monetary Authority of Singapore (MAS) for a Capital Markets Services (CMS) licence.This CMS licence will allow PingPong to offer eligible Singapore-based clients over-the-counter FX derivatives products through its subsidiary, Mana Markets (SG) Pte. Ltd ("the Company"). Eligible Singapore-based clients will be able to hedge against foreign exchange volatility. This will complement the existing suite of payment services provided by PingPong through its licensed Major Payment Institution, Mana Payment (Singapore) Pte. Ltd. in Singapore.Shu Jianqin, CEO of PingPong Asia Pacific and Group Partner, said: "This in-principle approval marks an exciting new chapter for PingPong across Singapore and Southeast Asia. Singapore's world-class regulatory framework, robust institutional ecosystem, and role as a global financial hub make it both a strategic home for our expansion and a powerful base for the clients we serve."NoYesPayments06 Jul, 2026