Singapore-based payments network Thunes has secured 50 regulatory licences to operate in the US.  

The licences, secured via the firm’s newly established entity Thunes Financial Services, will enable it to offer its Pay and Accept suite of services directly to US-based corporates, merchants, and digital platforms.  

With regulatory approvals, Thunes can now contract with American businesses for real-time cross-border payments through its Direct Global Network. 

The network is claimed to connect over seven billion mobile wallets and bank accounts, alongside 15 billion cards in more than 130 countries, transacting in 80 different currencies.  

Besides, American members of the network will have the advantage of funding Thunes locally, streamlining the payment process. 

Thunes Direct Global Network members will gain direct access to the US market through a single integration.  

With the integration of the SmartX Treasury system, members based in the US will be able to execute real-time payments internationally. 

Thunes CEO Floris de Kort said: “At Thunes, we’re proud to have built a world-leading payments Network. Securing our U.S. licences marks a significant milestone in our global growth. It’s a reflection of the momentum we’ve created and the trust we continue to earn. We’re scaling with purpose and delivering limitless, tangible value to every Member of the Thunes Direct Global Network in the process.” 

The development follows Thunes’ Series D financing round in April, which helped the firm raise $150m. The round was led by Apis Partners and Vitruvian Partners, aiming to support the payments firm’s growth initiatives within the US.