SINGAPORE, July 6, 2026 /PRNewswire/ -- 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."
About PingPong
Since 2015, we've been building the financial payment infrastructure for global commerce. Our compliance-first payment solutions deliver real-time processing, transparent pricing, and regulatory coverage across 60+ licences for secure global growth. From our New York founding, we've scaled to 40 offices worldwide with 1,700+ employees, processing over $410 billion for enterprises and startups expanding internationally.
For more information, visit www.pingpongx.com
Disclaimer
An in-principle approval (IPA) reflects MAS' view that a licence may be issued to the applicant upon the fulfilment of specified conditions and provided there are no material adverse developments affecting the applicant. An IPA does not constitute a licence for the Company to provide brokerage services at this juncture. MAS reserves the right to rescind the IPA in circumstances where it considers appropriate.
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