Razer Gold has received in-principle approval for a major payment institution licence in Singapore while venture investor Gobi-Core has collaborated with a government agency in the Philippines to boost the local startup landscape.
Razer Gold secures in-principle approval for major payment institution licence
Gaming payments firm Razer Gold, a part of the broader Razer ecosystem, has obtained in-principle approval from the Monetary Authority of Singapore (MAS) for a Major Payment Institution (MPI) licence.
The MPI licence from MAS will allow Razer Gold to offer regulated payment services, such as account issuance, domestic and cross-border money transfers, merchant acquisition, and e-money issuance.
Adisorn Phonnarut, global head of Razer Gold, said the in-principle approval is “a testament of our team’s dedication in establishing a robust compliance framework”.
Razer Gold previously operated under a temporary exemption under the city-state’s Payment Services Act. The in-principle approval moves the company close to a full licence.
Razer Gold is a unified virtual credit system designed for gamers worldwide. It allows users to purchase games and in-game content across a vast array of platforms, encompassing over 42,000 games and entertainment titles.
Gobi-Core Philippines partners with NDC to boost PH startup scene
Local venture investor Gobi-Core Philippine Fund (Gobi-Core) is collaborating with the government-owned corporation National Development Company (NDC) to help boost the startup ecosystem in the country.
NDC and Gobi-Core will use their resources, expertise, and strategic cross-border network to help Filipino startups thrive and create sustainable growth pathways across the region, according to an announcement.
“This public-private collaboration positions the Philippines as a critical gateway for startups looking to expand regionally within ASEAN,” Gobi-Core said.
Gobi-Core recently led an investment in Humble Sustainability, a prominent e-waste management firm in the Philippines, supported by the Asian Development Bank.
The venture investor was earlier accredited by the government as a co-investment partner for the state-initiated $10-million Startup Venture Fund.
