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Hong Kong, 24 June 2024 – RedotPay, a rapidly growing crypto payment company, proudly announces the successful acquisition a licensed Money Service Operator (MSO) in Hong Kong, further expanding its range of services and solidifying its commitment to regulatory compliance. The completion of this acquisition on 20 June 2024 marks a significant milestone for RedotPay.
The newly acquired entity, now part of the RedotPay group, holds an MSO licence granted by the Customs and Excise Department in Hong Kong. This regulatory approval authorises the RedotPay group to operate as a licensed money service provider, offering money changing and remittance services in Hong Kong. This milestone allows the RedotPay group to broaden its service offerings, providing more value to customers.
“We are excited to announce our acquisition a licensed MSO, which opens new doors for RedotPay and enables us to expand our service and product portfolio,” said Michael Gao, CEO & Co-founder of RedotPay. “By bringing money service operations in-house, we can ensure even faster transactions, lower costs, and enhanced security for our customers. This development aligns with our commitment to providing innovative and seamless payment solutions.”
The acquisition of the MSO licensee not only strengthens RedotPay’s compliance framework but also positions the company as a leading player in the payment services industry. RedotPay remains dedicated to investing in cutting-edge technology and top-tier talent to deliver the highest standards of security, reliability, and user experience.
As a responsible crypto payment company, RedotPay continuously evaluates and enhances its compliance practices to align with evolving regulations and industry best practices. The acquisition of the MSO licensee in Hong Kong marks a significant milestone in RedotPay’s journey towards providing seamless, secure, and innovative payment services to customers.
For more information about RedotPay and its services, please visit www.redotpay.com.
Media Contact:
Trevor Cheng
marketing@redotpay.com
About RedotPay:
RedotPay is a fast-growing crypto payment company based in Hong Kong. Our mission is to enable crypto users to use crypto currencies in daily transactions like fiat currencies, reduce overall transaction costs through blockchain technology, and help unbanked gain access to financial services and promote greater financial inclusion and economic prosperity.
Disclaimer: This publication is for informational purpose only and is not intended to constitute legal, financial, investment or any other form of professional advice. RedotPay assumes no responsibility or liability for any errors or omissions in this publication. The information contained in this publication is provided on an “as is” basis and RedotPay makes no representation or warranty, whether expressed or implied, in relation to it and its use. The information is provided with no guarantees of completeness, accuracy, usefulness or timeliness. Readers should seek professional advice before taking any action in relation to the matters dealt with in this publication.
