Gravitas International Associates secured Payment Services Act (“PSA”) SPI licence for TransferClear Pte Ltd to expand its payment services

Gravitas International Associates appointed by TransferClear Pte Ltd to secure a PSA licences from the Monetary Authority of Singapore (MAS) to operate new regulated payments activities.

Singapore, 25th Jan 2022, ZEXPRWIRE, Gravitas International Associates Pte Ltd (“Gravitas”), itself a Singapore Payment Services Act (PSA) exempt company, full-service advisory and consulting company and Singapore Fintech Association certified Fintech Service Provider, has successfully assisted TransferClear Pte Ltd in securing a Singaporean SPI Payment Service Act (PSA) licence. This licence allows TransferClear to operate in four new regulated activities under the Monetary Authority of Singapore (MAS) licensing framework. 

Effective from November 11, 2021, the secured SPI licence will allow TransferClear Pte Ltd to provide the following payment services:

1. Account issuance service
2. Cross-border Money Transfer Service
3. Domestic Money Transfer Service
4. E-money Issuance Service

Gravitas International Associates provided objective insights, subject expertise, and a simplified approach with the TransferClear Pte PSA SPI licence application. This  engagement included the following end to end services:

1. Corporate secretarial services
2. PSA framework licensing
3. Regulatory compliance documentation
4. Implementation of risk management process and functions
5. Development of a business plan
6. Preparatory technical risk manual framework
7. Submission of PSA SPI licence application and issuance of a Singaporean legal opinion through a retained and instructed Singaporean law firm

“I have envisioned Gravitas to be a part of clients’ businesses to achieve their long-term success. I am proud of my team’s dedication and the privilege of TransferClear’s trust with us throughout the engagements.” Said Malcolm Tan, Chief Strategic Advisor for Gravitas International Associates. “We are committed to delivering the highest level of client satisfaction, quality service standards, and industry knowledge excellence for our clients.” Malcolm Tan added.

Gravitas has assisted clients to prepare fully for the interview process with the Monetary Authority of Singapore (MAS) from working with clients to review policies and procedures, transactions screening, compliance structure and travel rule implementation, and the reliability and documentation and testing of the clients’ technology system. The bespoke engagements with Gravitas included law firm issued legal opinions and the submission of the PSA licence application documents by its appointed Singapore-based Singapore Academy of Law’s PREP listed law firm, Magna Law Corporation.

For more information on Gravitas International Associate and its solution, please visit: https://www.gravitas.international/

ABOUT GRAVITAS INTERNATIONAL ASSOCIATES

Gravitas International Associates Pte Ltd (“Gravitas”) is a subsidiary company under Technicorum Holding’s group of companies. Gravitas is a Singapore Payment Services Act (PSA) exempt company incorporated on March 29, 2018. 

The Singapore-registered Fintech company is certified by Singapore FinTech Association as an authorised blockchain & DLT provider, e-wallet, core banking, digital exchange Platforms, digitisation and tokenisation, platforms, products, and services.

Gravitas is a blockchain service provider within the fields of decentralised financial services, such as real estate, engineering, logistics, industrial, entertainment as well as life-sciences, and agricultural industries, and has advised and worked on various aspects, and in some cases, providing end-to-end services, for over 100 ICO/IDO/IEO/STO projects since 2018.

Gravitas also holds a licence from the Accounting and Corporate Regulatory Authority of Singapore (ACRA) as a filing agent. It has helped incorporate and perform a full range of corporate secretarial services for its many clients.

Media Contact

Company Name:-Gravitas International Associates

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Company Website:-https://www.gravitas.international/

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