Solowin Acquires Stake in Singapore MPI-Licensed Firm to Accelerate Global Payment Network Expansion

Core Insights - Solowin Holdings has entered into an equity purchase agreement to acquire 19% of GPL Remittance Pte. Ltd., enhancing its digital payment infrastructure [1][2] - The acquisition of GPL, which holds a Major Payment Institution license from the Monetary Authority of Singapore, is expected to strengthen Solowin's compliance and market competitiveness in the region [2] Company Overview - Solowin Holdings is a global financial services firm established in 2016, operating in both traditional finance and the Web3 industry [3] - The company offers a full-spectrum ecosystem that integrates traditional and decentralized finance, leveraging its licensed subsidiaries for digital asset capabilities [3] Strategic Importance - The MPI license held by GPL allows for comprehensive payment services, enabling Solowin to scale globally and integrate digital and fiat services [2] - This investment is seen as a strategic asset that will support Solowin's growth and collaboration with global partners in the cross-border payment and digital financial ecosystem [2]