WB21 Receives Acceptance By Central Bank Of Singapore (MAS)

[Internationaloff]

SAN FRANCISCO, Aug. 30, 2016
WB21 Pte. Ltd. launched its operations as a leading provider of stored value and payment services in Asia. The Singaporean company received acceptance earlier this month to operate payment and financial services as a SVF under Registration No. 201618887H, regulated by the Payment Systems (Oversight) Act. The Authority to approve and supervise financial services in Singapore is the Monetary Authority of Singapore (MAS) which acts as the Central Bank.
With more than 900,000 customers and a monthly cross border payment volume exceeding 1 Billion USD, WB21 has experienced substantial traction in the Asian and global markets.
China, India and Indonesia have been the strongest contributors for WB21s growth in Asia. The Singaporean company will give WB21 the ability to offer Asian clients a solid platform for their financial needs. "As a leading international financial center, Singapore offers WB21 the ideal ecosystem to provide our services and grow our customer base in Asia. The regulatory framework, legal and political stability and highest standards for financial services supports WB21s´ business model to extend premier digital banking to our clients", says Michael Gastauer CEO and Founder of WB21.

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[beepit]

does WB21 have to follow Common Reporting Standard (CRS)?

 

[JohnLocke]

If they are registered as financial institution then yes. Most payment service providers have to comply.

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