Reap Receives In-Principle Approval for Major Payment Institution License from Monetary Authority of Singapore

SINGAPORE, Jan. 9, 2025 /PRNewswire/ -- Reap, a leading payment technology provider, is thrilled to announce today that it has received an In-Principle Approval (IPA) from the Monetary Authority of Singapore (MAS) for its application of the Major Payment Institution (MPI) License for its Singapore entity, Reap Singapore.

Obtaining the IPA marks a significant milestone for Reap. Reap is committed to regulatory excellence while continuously enhancing its capabilities and presence in Singapore and the broader Asia Pacific region. While the IPA marks a critical step forward, Reap Singapore remains steadfast in meeting the required conditions for the MPI License. Reap is equally committed to dedicating the necessary resources to support and assist Reap Singapore in achieving this goal. Together, Reap and Reap Singapore will continue to refine its compliance standards and beyond, ensuring it delivers enhanced value and trusted solutions to Singapore and the broader APAC customers.

"At Reap, compliance has always been paramount, not only to safeguard our users but also as a fundamental pillar for growth. Receiving this IPA from the MAS, a globally renowned financial regulator, is incredibly motivating and will be a key driver of secure growth in the region. It fuels our enthusiasm to continue collaborating closely with regulatory bodies to shape a secure and efficient money movement across the region. Reap is also committed to building a strong payment service." stated Kevin Kang, Co-Founder of Reap.

Singapore is integral to Reap's mission of enhancing global money movement. Its high regulatory standards and commitment to foster sustainable innovation align seamlessly with Reap's vision for the future of payment services. This alignment empowers Reap to drive secure and efficient financial flows while delivering exceptional value to its clients and partners.

About Reap

Reap group is a leading global payment technology provider that enables financial connectivity and access for businesses worldwide. By bridging disparate economies, merging technological divides, and connecting key financial players, we are transforming the financial landscape into a more interconnected and interoperable space for efficient money movement.

With corporate cards, payout solutions, and expense management tools, we streamline financial operations and empower businesses to scale. Our APIs enable businesses to embed finance into their own products and services, from issuing Visa cards to facilitating cross-border payments.

Founded in 2018 in Hong Kong, Reap has since expanded to a team of over 100 across the globe, including Singapore. Reap is supported by a strong network of investors, including Acorn Pacific Ventures, Arcadia Funds, HashKey Capital, Hustle Fund, Fresco Capital, Abacus Ventures, and Payment Asia.

For media enquiries, please contact:

Christine Cheuk
Marketing & PR Manager, Reap
christine@reap.global

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

Reap Receives In-Principle Approval for Major Payment Institution License from Monetary Authority of Singapore

LAS VEGAS, Jan. 10, 2025 /PRNewswire/ -- Pimax, a global leader in high-performance VR technology, debuted its Crystal Super headset on the world stage at CES2025, letting global media get their first taste with the 29 million pixel VR headset.

The world meets the Crystal Super

The Crystal Super is Pimax's latest flagship headset, featuring a resolution of 3840x3840 per eye, meaning it's the first VR headset reaching retina levels of clarity. Glass aspheric lenses provide 57 PPD at over 120° horizontal field of view, with an incredible brightness of 280 nits.

Pimax brought the Crystal Super DVT2 model (Design Validation Test #2), with all features working except eye-tracking, and final optimizations still to be made. International media outlets such as Linus Tech Tips, CNN, TechRadar, PC Gamer, PC Mag, Heise and Gaming Nexus and content creators have been among the first to test these innovations, making remarks on the groundbreaking new clarity, brightness and wide field of view of the new headset.

The Crystal Super comes with different optical engines, meaning the whole panels and lenses can be swapped out within seconds. The 57 PPD QLED (demoed at CES) is shipping soon, with the 50 PPD QLED and micro-OLED shipping also in Q1 2025.

Partners & other headsets

Joining the Crystal Super's debut was the streamlined Pimax Crystal Light; a more accessible high-end PCVR headset, that is extremely popular among flight & race simmers. It was demoed in such a use scenario by partners such as Next Level Racing, MOZA Racing, Podium1, and Apevie — as well as in other use cases by Moxi (sports training) as well as CAD FORGE and NEED Immersive Reality (professional design).

Completing the lineup of Pimax at CES2025 is the 60G Airlink, enabling ultra-low-latency wireless PCVR with the original Pimax Crystal. The 60G Airlink now runs at a 90 Hz refresh rate, so that users can enjoy complete freedom without compromising on performance or visual fidelity.

"It's always exciting to be at CES to meet users and see them use our headsets, and this year especially being the first time we publicly demoed the Crystal Super," said Robin Weng, founder of Pimax: "The positive reactions from attendees affirm our dedication to pushing VR technology to new heights."

On-site Photos & Footage

High-res: https://drive.google.com/drive/folders/1J6DnOF5L35i6_Ka3M45jiPGwWAr7ycLH?usp=sharing

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

Pimax debuts world's first retina-level VR headset Crystal Super at CES2025