Coda expands digital payments business after MAS licence win

By Parth Prabhudesai

Singapore-based FinTech company Coda has secured a Major Payment Institution (MPI) licence from the Monetary Authority of Singapore (MAS), strengthening its position in Asia’s fast-growing digital payments and digital commerce market.

The company announced that its Singapore entity, Coda Payments Pte. Ltd., received full regulatory approval after previously operating under in-principle approval. The licence allows Coda to continue offering merchant acquisition services alongside domestic and cross-border money transfer solutions under Singapore’s Payment Services Act.

The approval marks a key milestone for Coda as it expands beyond its origins as a gaming-focused payments provider into a broader digital commerce and FinTech platform serving global online merchants and consumers.

Chief Executive Officer Shane Happach said the licence reflects the company’s long-term commitment to building a regulated payments business from Singapore.

“Securing a Major Payment Institution licence in Singapore has been a long-standing ambition for Coda and an important step in our evolution as a global payments business,” said Happach.

He added that Singapore would remain central to the company’s growth strategy, governance and operational framework due to its strong regulatory environment and FinTech ecosystem.

Founded in Singapore, Coda provides payment, monetisation and distribution infrastructure for digital content companies, including gaming publishers such as Activision, Electronic Arts, HoYoverse and Moonton. The company supports more than 400 payment methods across over 70 markets, enabling consumers to purchase digital content and online services through localised payment options.

The MAS approval comes at a time when regulators across Asia are increasing oversight of digital payments and cross-border financial services while continuing to support FinTech innovation.

For FinTech firms, obtaining an MPI licence in Singapore is viewed as a major regulatory achievement, as it enables companies to scale payment operations under one of Asia’s most recognised financial regulatory frameworks.

The licence will allow Coda to further strengthen its compliance, risk management and payment security capabilities as competition in the global digital payments market intensifies.

Singapore continues to position itself as a leading FinTech hub in Asia, attracting payment firms, digital asset companies and cross-border commerce platforms seeking regulatory clarity and regional expansion opportunities.