Global payment and treasury management platform SUNRATE has received in-principal approval from Bank Negara Malaysia for a Money Services Business license.
The approval will allow the company to offer its full suite of global B2B payment services to Malaysian businesses, including cross-border transactions.
SUNRATE said Malaysia will be the key location for its new global operations hub and that the move is part of its strategic expansion, which includes growing its local team across key functions.
The company, which is already licensed in Singapore, Indonesia, Hong Kong SAR, the UK, and Mainland China, said the approval supports its aim to deepen its presence globally and provide businesses with cross-border payment and treasury solutions.
“Cross-border payments and treasury operations remain some of the most complex yet critical functions for modern businesses. At SUNRATE, we’ve always believed in removing friction from global finance and enabling companies to scale seamlessly across borders.
Malaysia is an important part of our global strategy—not only as a high-growth market, but also as a strategic hub for our global operations. With this new license, we are deepening our commitment to the region. Our goal is to empower both local and global businesses with robust, compliant, and scalable financial infrastructure from the heart of Southeast Asia.”
said Joshua Bao, Co-founder of SUNRATE.
Featured image: Edited by Fintech News Malaysia, based on image by awaisbinaziz7862 via Freepik
