Aspire FT Pte. Ltd. ("Aspire") has been granted a temporary exemption from holding a license under the Payment Services Act 2019 (as amended, "PS Act") for the provision of Account Issuance Service, Domestic Money Transfer Service, and E-money Issuance Service for a specified period. The exemption can be confirmed on the MAS website here.
Aspire has also been granted a temporary exemption from holding a license under the PS Act for a specified period for the provision of specified cross-border money transfer service caught under the expanded scope of the regulated activities. The expanded scope of regulated activities relates only to arranging for the transmission of money from any country or territory to another country or territory, where monies are not accepted or received in Singapore. The exemption can be confirmed on the MAS website here.
Aspire is not licensed, nor exempt, to provide cross-border money transfer service beyond the expanded scope described above, and consequently, this service is provided only by MAS licensed entities partnering with Aspire ("Partners"), subject to their own terms and conditions. All Aspire and Partners terms and conditions can be found here.
Yield is being provided by AFT SG 2 Pte Ltd (AFT) in Singapore. AFT is licensed under the Securities and Futures Act in respect of dealing in capital markets products (collective investment schemes) and providing custodial services.
If you wish to discuss data protection matters, please contact our Data Protection Officer at singapore-dpo@aspireapp.com
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