Singapore-based all-in-one finance platform Aspire has announced it secured a Money Service Operator (MSO) licence from the Hong Kong Customs and Excise Department. In a bid to expand its operations across its home country of Singapore, Aspire received an MSO licence in Hong Kong, allowing it to provide its unified suite of financial solutions to small and medium-sized enterprises (SMEs) in the region.

The company focuses on enabling local businesses to open accounts for payables and receivables management, international payments, and payment gateway solutions. Additionally, Aspire’s integrated solution was developed to support Hong Kong’s SME sector across industries and facilitate multi-currency cash management and domestic and cross-border money transfers. Considering Hong Kong’s current landscape, with the local revitalisation of business digitalisation and the substantial entrepreneurial increase, the company intends to meet the needs of the new generation of startups and SMEs by offering them an integrated platform to simplify their business finance operations. More information on the announcement According to Aspire’s officials, as Hong Kong’s digital economy is growing noticeably, the demand for integrated financial solutions has also seen an increase.

The company highlighted its commitment to tailoring its offerings to the needs and requirements of each market, with the current news further advancing its mission. Aspire plans to enable Hong Kong SMEs with the financial tools they require to drive their expansion and growth. Moreover, by securing the operating licences, Aspires can progress its broader strategic expansion across Asia, whilst underlining its adherence to the regulatory requirements of each country that it operates in. Also, the current news comes as an addition to the company’s previous milestones in Asia, with it raising nearly USD 300 million from investors since being launched in 2018.

The capital enabled Aspire’s development and growth in customer base, with its all-in-one finance platform being leveraged by approximately 15,000 businesses across the region, including Air Asia, Carousell, Love Bonito, Endowus, and Tech in Asia. .