Aura Group has got the license from the Monetary Authority of Singapore (MAS) to start capital market services (CMS). Meanwhile, TransferWise has rebranded its company to Wise and plans to hire more people in Singapore.
Singapore’s Aura Group gets CMS license
Aura Group, the Singapore-headquartered alternative investment and wealth management platform has obtained the capital market services (CMS) license from the Monetary Authority of Singapore (MAS), according to a press statement.
The license will allow the company to provide services on funds management and offer financial advisory activities to accredited and institutional investors.
Aura Group commenced operations in Singapore in 2016 as a registered fund management (RFM) company.
“Singapore is also likely to benefit from structural and regulatory changes in Hong Kong and other offshore financial centres like Cayman and British Virgin Island (BVI),” said Aura Group managing director Calvin Ng.
UK tech firm TransferWise rebrands to Wise
TransferWise, a technology company headquartered in the UK, has rebranded its company to Wise, per an announcement.
Following the rebranding, TransferWise’s previous website transferwise.com will be changed to wise.com – its existing customers do not need new accounts.
Founded in 2011, the company claims to have 10 million customers.
Going forward, this year, TransferWise plans to hire more than 70 people in Singapore, which is its Asia Pacific hub, per reports. According to data by Craft, TransferWise has raised a total of $1 billion in funding since 2012.
The company’s latest funding round was closed in July 2020 wherein it raised $319 million led by Lone Pine Capital and D1 Capital Partners.