Coda Payments said it has secured an MPI licence to continue its offerings in Singapore, while Thakral Corporation has enhanced its stake in TIL Investments.
Coda Payments secures Singapore MPI licence
Singapore-based payments firm Coda Payments has announced that it secured a Major Payment Institution (MPI) licence from the Monetary Authority of Singapore.
The licence allows it to continue offering merchant acquisition, domestic money transfer, and cross-border money transfer services under the city-state’s Payment Services Act, per the announcement.
The approval follows an earlier in-principle approval from MAS and marks a key regulatory milestone for Coda, which provides digital content monetisation and distribution services to publishers and gaming companies globally.
Coda CEO Shane Happach said the licence was an “important step” in the company’s development as a global payments business, adding that Singapore will remain central to its governance and long-term strategy.
Founded in 2011, Coda supports more than 400 payment methods across over 70 markets. Its customers include more than 300 publishers such as Activision, Electronic Arts, HoYoverse, Moonton and Riot Games.
Coda, which recently acquired European prepaid payments platform Recharge, is backed by Apis Partners, Insight Partners and Smash Capital.
Thakral Corporation ups stake in Gurugram development
Singapore-listed Thakral Corporation has completed the acquisition of an additional 81.6% stake in TIL Investments for S$93.9 million ($69 million), raising its ownership in a healthcare-led mixed-use development project in India’s Gurugram to 95.3%.
The acquisition was carried out through wholly owned unit Paramount Investments and was funded through a combination of S$50 million in cash and the issuance of 24.2 million new Thakral shares priced at S$1.8128 apiece, the company said.
The deal follows shareholder approval secured at an extraordinary general meeting in April.
The 21-acre Gurugram site has development potential exceeding 2.5 million square feet and will be developed in phases, beginning with a hospital and wellness centre, Thakral said.
The hospital will be operated by a healthcare partner under a revenue-sharing model, while residential components will be developed with a third-party developer.
