TerraPay has received a Class B license from Bank Negara Malaysia to offer cross-border payment services.

The approval allows it to partner directly with local banks, licensed payment providers, and businesses to support remittances, B2B transactions, and wallet payouts.

Its API-driven, interoperable platform supports real-time payments and is designed to help partners scale efficiently while meeting regulatory requirements.

The company said its technology-first approach ensures fast integration and supports broader digital financial inclusion goals by improving access for underserved communities.

With this approval, TerraPay reaffirmed its commitment to regulatory compliance, customer protection, and innovation.

It added that the license marks a key step in its Southeast Asia expansion and further strengthens its global regulatory footprint.

Ambar Sur, Founder & CEO of TerraPay said,

“This license reinforces TerraPay’s commitment to building a seamless and compliant payments ecosystem across APAC.

Malaysia is a key market, and we are excited to deepen partnerships that drive financial inclusion and innovation.”

Sukesh Malliah, Vice President (APAC) at TerraPay said,

“Securing the Class B license from Bank Negara Malaysia is a proud milestone in TerraPay’s APAC journey. Malaysia is a strategic market with immense potential for cross-border remittances and trade.

This license empowers us to directly collaborate with local banks and financial institutions, delivering real-time, secure, and compliant payment solutions. We remain committed to driving financial inclusion and innovation across the region, while enabling our partners to scale confidently across borders.”

Featured image: Edited by Fintech News Malaysia, based on image by DeKreatif.id via Freepik