Coda, the Singapore-based fintech company best known for powering Codashop and digital payments for some of the world’s biggest game publishers, has secured a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS), marking a significant milestone in its expansion as a regulated global payments platform.
The approval allows Coda Payments Pte. Ltd. to continue providing merchant acquisition, domestic money transfers, and cross-border money transfer services under Singapore’s Payment Services Act, reinforcing the company’s position as one of Southeast Asia’s leading digital commerce providers.
Founded in Singapore, Coda has become a major player in digital content monetization and distribution, connecting publishers, payment providers, and consumers through a network that supports more than 400 payment methods across over 70 markets. Its partners include gaming giants Activision, Electronic Arts, HoYoverse, and Moonton, while millions of users rely on its platforms to purchase digital content and services.
For many Filipinos, the company is most recognizable through Codashop, one of the country’s largest platforms for purchasing in-game credits and digital vouchers without requiring a credit card.
“Securing a Major Payment Institution license in Singapore has been a long-standing ambition for Coda and an important step in our evolution as a global payments business,” Coda chief executive officer Shane Happach said.
“Coda is headquartered in Singapore and has grown from strength to strength here over the past decade. Singapore will continue to play a central role in our growth, governance, and long-term strategy,” he added.
The MPI license comes as Coda expands beyond payment processing and digital distribution into consumer protection initiatives aimed at combating online scams targeting gamers.
Earlier this year, the company launched Guard Your Game, an anti-scam campaign developed in partnership with Indonesia’s Ministry of Creative Economy. The initiative educates gamers on recognizing phishing attempts, fake reward offers, impersonation scams, and fraudulent top-up websites that mimic legitimate platforms such as Codashop.
The campaign includes localized anti-scam booklets, social media awareness videos featuring mascot “Codee,” and an Online Safety URL Checker that allows users to verify whether gaming websites are legitimate before making purchases. The initiative has since expanded to Indonesia, Malaysia, the Philippines and Singapore.
The push comes as online scams continue to surge across Southeast Asia. According to the Global Anti-Scam Alliance’s State of Scams in Southeast Asia 2025 report cited by Coda, nearly two-thirds of Indonesian adults encountered a scam over the past year, while one in three became victims, resulting in estimated losses equivalent to about US$3.3 billion.
Beyond gaming, Coda has also been investing in developer tools. In January, the company announced an integration with Unity’s In-App Purchasing SDK, enabling game developers to launch branded web stores while Coda manages payments, fraud prevention, tax remittance, invoicing and regulatory compliance across global markets.
