OMAN; SINGAPORE —Singapore-based fintech firm iChange Pte. Ltd. has secured a S$2.50 million strategic cash investment from Oman-headquartered Muscat Precious Metals Refining Company LLC. Under the agreement, the subscriber will acquire 320,200 new ordinary shares, representing a 19.90% fully-diluted equity stake in the digital payment provider. Following the transaction, parent entity Intraco Limited will see its effective interest diluted from 80.60% to 64.60%. The capital injection will recapitalize the payment institution, support ongoing operational expenditures, and fund capital expansion across regional markets.
iChange Pte. Ltd. is a licensed major payment institution regulated by the Monetary Authority of Singapore, providing digital account issuance, domestic and cross-border money transfers, and foreign currency exchange. Muscat Precious Metals Refining Company LLC operates a gold refinery in Muscat, engaging in precious metals smelting, minting, trading, and platform-based hedging, alongside holding a controlling 59.00% stake in Singapore fintech group SDAX Financial Pte. Ltd.
The cross-border investment highlights growing synergy between Middle Eastern capital and Southeast Asian financial infrastructure, establishing a bridge for digital payment expansions into Gulf Cooperation Council markets. By bringing in a strategic Middle Eastern partner, the Singaporean payment institution positions itself to capture cross-border trade flows and remittance corridors connecting the two regions. The corporate realignments also enable the target firm to optimize its capital structure while liquidating existing internal debt.
For global investors and cross-border payment platforms, this transaction signals increased interest from traditional commodity and refining enterprises in diversifying into regulated digital financial infrastructure. The entry of Omani capital into a Singapore central bank-licensed entity provides a blueprint for future joint ventures combining precious metals asset backed models with digital payments, enhancing capital flexibility across emerging trade networks.
