General
Opal is regulated by the Monetary authority of Singapore (MAS).
Opal is the trading name of Opal Fintech Pte Ltd (UEN: 201929437M) a company incorporated in Singapore, with registered address on 190 Clemenceau Avenue, #06-11, Singapore 239924, which holds a Major Payment Institution license No. PS20200221 issued by the Monetary Authority of Singapore for the provision of cross border money transfer services
Opal is a Major Payment Institution licensed by the MAS in Singapore.
By law (Payment services Act) in Singapore, Opal has user protection measures implemented to safeguard & protect 100% of our customer’s funds.
Your funds are segregated strictly in a trust account with a tier-1 bank which is safeguarded in Singapore.
What is safeguarding?
Safeguarding means that, by law Singapore (Payment services Act), Opal must keep all your funds in accounts that are completely segregated from the ones we use to operate our business.
So, if anything were to happen to Opal, your money would be 100% safeguarded with a Tier 1 bank in Singapore.
Security & data protection is of the highest importance to us. Our platform has the best-in-class security practices to comply with the technology risk management guidelines by MAS Singapore.
• Your data is secure. We implement the highest digital security encryption and access protocols. We also comply with personal data protection regulations in Singapore.
• Access is strictly restricted. Our platform is protected with a user PIN that should be known only to yourself. Transactions also require 2-factor authentication with an OTP that will be sent to your email or phone.
• Accounts can be locked if compromised. Should you lose access or feel that your account has been compromised, please let us know immediately. We will lock your account until security has been re-established.
Cross Border Transfer
Opal implements various measures to make sure your money and data are always safe and protected with us.
We safeguard your money
Opal is regulated by the Monetary Authority of Singapore (MAS). We follow strict rules set by the law (Payment Services Act) in Singapore. We have user protection measures implemented to safeguard & protect 100% of our customer’s funds. Your funds are segregated strictly in a trust account with a Tier-1 bank which is safeguarded in Singapore.
We secure your login information and personal data
Security & data protection is of the highest importance to us. Our platform has the best-in-class security practices to comply with the technology risk management guidelines by MAS Singapore.
• Your data is secure. We implement the highest digital security encryption and access protocols. We also comply with personal data protection regulations in Singapore.
• Access is strictly restricted. Our platform is protected with a user PIN that should be known only to yourself. Transactions also require 2-factor authentication with an OTP that will be sent to your email or phone.
• Accounts can be locked if compromised. Should you lose access or feel that your account has been compromised, please let us know immediately. We will lock your account until security has been re-established.
With Opal’s MPI license, there is no limit as to how much you can send.