Coda Payments Pte. Ltd., the Singapore entity of digital content monetization and distribution company Coda, was licensed by the Monetary Authority of Singapore to conduct cross-border money transfers, following receipt of a Major Payment Institution license.
In a statement on Friday, Singapore-based Coda said the license, which follows an earlier in-principle approval, also authorizes Coda to provide merchant acquisition and domestic money transfers under Singapore’s Payment Services Act.
Shane Happach, CEO of Coda, said securing the license had been a long-standing ambition for the company and an important step in its evolution as a global payments business. Singapore would continue to play a central role in the company’s growth, governance, and long-term strategy, the executive added.
Coda is headquartered in Singapore and serves more than 300 publishers worldwide. The company supports more than 400 payment methods across over 70 markets. Known partners are game publishers, such as Activision, Electronic Arts, and Riot Games.