PEXX, a Singapore-based cross-border USD platform, has officially launched its comprehensive neo-banking suite, now available to users in over 50 countries.
Aimed at modern global citizens, the platform seeks to replace outdated financial systems with seamless, real-time digital banking tailored to the needs of today’s mobile workforce.
Through this expanded launch, PEXX introduces four core services—banking, payments, transfers, and yield earning—within a single digital infrastructure. Crucially, users can open full-featured USD accounts remotely, with no requirement for U.S. residency or social security numbers. Account setup is instant, needing only a passport and smartphone, and comes with zero monthly fees and no minimum deposit requirements.
In addition to traditional USD, users can deposit and transact in stablecoins like USDT and USDC. The platform supports global money movement via SWIFT, ACH, and Fedwire, offering real-time foreign exchange rates and full fee transparency. A global Visa debit card enables users to spend in USD or stablecoins across 150 million merchants worldwide, including major platforms such as Uber, Netflix, and Alipay, with a flat 1.2% foreign exchange (FX) fee.
To complement its banking services, PEXX has introduced a daily interest wallet that offers up to 3.5% Annual Percentage Yield (APY) on idle balances. The feature, powered by tokenized U.S. Treasury Bills through regulated partners, pays out yield daily with no lockups or hidden risk, providing a low-volatility savings option for users.
Strengthening its competitive edge, PEXX claims its stablecoin remittance infrastructure delivers faster settlements and more favourable conversion rates than other fintech players. Transfers to countries like India, Vietnam, and Indonesia are processed in under two minutes, with recipients receiving up to 2% more value compared to rival services.
However, PEXX’s global expansion comes at a time of tightening regulatory scrutiny. The Monetary Authority of Singapore (MAS) has mandated that all domestic crypto service providers without a Digital Token Service Provider (DTSP) license must cease overseas operations by June 30.
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