Singapore's first crypto licensee ups R&D, focus on existing solutions
It is also closely watching plans to roll out central bank digital currencies
Singapore
DESPITE obtaining the first of Singapore's much-coveted licences to offer digital payment token (DPT) services, mobile payments platform FOMO Pay will focus on its existing, non-tokenised solutions while ramping up research and development efforts on DPT and blockchain technology.
Founded in 2015, FOMO Pay is a mobile payment aggregator that helps online and offline merchants connect to different mobile wallets and credit cards through a single, unified QR (Quick Response) code. Earlier this year, it also started offering buy-now-pay-later schemes. FOMO Pay currently works with more than 6,000 merchants across various sectors in Singapore, and has been expanding into Malaysia and Hong Kong.
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