Asia’s largest crypto wallet, imToken, and Singapore major payment institution FOMO Pay, jointly announce a strategic partnership
Singapore, November 8, 2021 - imToken, a world-class blockchain technology company in Singapore best known for its reliable decentralized crypto wallet, and FOMO Pay, a Singapore-headquartered major payment institution, which has been granted the first Digital Payment Token (DPT) Service licence by the Monetary Authority of Singapore (MAS), jointly announce a strategic partnership to integrate blockchain technology into payment solutions and other services for consumers and businesses.
Crypto innovation and blockchain technology are widely regarded as the next generation of digital finance. The MAS has emphasized its priority to be well positioned for the “economy of tokenization” that may come. It is necessary to overcome the gaps around compatibility, compliance and interoperability with traditional finance. The cooperation between imToken and FOMO Pay creates the exact synergy needed to help bridge the gaps and accelerate new financial paradigms in Singapore and beyond.
Bin He, Founder and CEO of imToken said, "We are thrilled to be partnering with FOMO Pay to provide next-gen payment and non-custodial wallet services under Singapore’s regulatory regime. Since our inception 5 years ago, imToken wallet has been trusted around the world and we continue to work hard to make blockchain technology more intuitive and accessible to everyone. With FOMO Pay’s digital payments vision and diverse merchant network along with imToken’s trusted brand and blockchain know-how, we are confident to integrate blockchain, digital assets and payments to improve financial efficiency and convenience to everyone’s daily life."
Zack Yang, Co-founder at FOMO Pay said, "As the first DPT licensee in Singapore, we are glad to announce our partnership with imToken to empower our clients with next-gen payment and non-custodial wallet services. Since 2015, FOMO Pay has been consistently focusing on enabling digital payment to foster financial inclusion. With imToken’s world-standard technology, we are now able to further expand our product offering to blockchain space. We believe that this partnership will bridge the gap between the traditional financial system and Web 3.0 on financial services, and bring the benefits of payment technology innovation to society."
Singapore-based decentralized digital wallet imToken is used to manage and safeguard a wide range of blockchain and token-based assets, identities and data, to build the most intuitive and reliable digital wallet that gives equal access to everyone to the tokenized world. Since its founding in 2016, it has helped its users transact and exchange billions of dollars in value across more than 150 countries around the world. imToken allows its users to manage assets on 12 mainstream blockchains, as well as seamlessly connect with DApps via a decentralized applications browser. For more information, please visit official website: https://token.im
About FOMO Pay
FOMO Pay Pte Ltd (“FOMO Pay”) is a major payment institution (License No. PS20200145) in Singapore, licensed by the Monetary Authority of Singapore to conduct Cross-border Money Transfer Service, Domestic Money Transfer Service, Digital Payment Token Service, and Merchant Acquisition Service. Founded in 2015, we have become a leading one-stop digital payment solution provider, enabling merchants and financial institutions with a comprehensive suite of payment methods in emerging markets across Southeast Asia, Africa and the Middle East, including the acceptance of card payment, QR payment and upcoming crypto currency which has surged as regulators push an agenda for cashless society and financial inclusion. The company has been trusted by over 10,000 clients. FOMO Pay is also one of the founding members of the Singapore Quick Response Code (SGQR) taskforce, contributing to creating the national standard to unify all e-wallets and moving towards promoting a cashless society in Singapore.