M-DAQ Global, a fintech specialising in cross-border foreign exchange (FX) and payment solutions, has been awarded a Capital Markets Services (CMS) licence by the Monetary Authority of Singapore (MAS).

This licence allows its subsidiary, M-DAQ Market Solutions, to deal in over-the-counter (OTC) derivatives contracts.

Leveraging its experience in B2C e-commerce, the CMS licence enables M-DAQ to expand into B2B services, addressing more complex requirements and longer settlement periods.

It complements the group’s existing Major Payment Institution (MPI) licence, enhancing its ability to deliver comprehensive solutions for managing currency exposure, accessing liquidity, and navigating market volatility.

“Securing the CMS licence strengthens our ability to meet the FX risk management needs of our growing pool of clients. We have built a strong foundation of FX expertise serving B2C E-Commerce leaders. With this licence, we can broaden our capabilities to support B2B applications with more complex requirements and longer settlement periods.

The CMS licence, along with our MPI licence, will allow us as a group to provide holistic and end-to-end solutions to help businesses manage currency exposure, collect and pay globally, and navigate market volatility with confidence.”

said Richard Koh, Founder and Group CEO of M-DAQ Global.

Featured image credit: Edited from Freepik

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