SUNRATE, the Singapore-based payment and treasury management platform, announced Wednesday that the company has been awarded Approval-in-Principle (AIP) by the Bank Negara Malaysia (BNM) for a Money Services Business (MSB) license.
This milestone not only enables SUNRATE to offer its full suite of global business to business (B2B) payment services to Malaysian businesses — including fast, secure, transparent, and cost-effective cross-border transactions — but also solidifies Malaysia as the key location for SUNRATE’s new hub for global operations, the firm said in a statement.
As part of its strategic expansion, SUNRATE plans to significantly grow its team in Malaysia, hiring across key functions.
This expansion underscores SUNRATE’s long-term commitment
to positioning Malaysia as a key hub for global fintech innovation and operational excellence.
“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,” said Joshua Bao, Co-founder of SUNRATE.
“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，” he added.
With licensed operations already in Singapore, Indonesia, Hong Kong SAR, the United Kingdom, and China, the company said it continues to deepen its presence globally and is well-positioned to support businesses with seamless cross-border payments and treasury solutions.
Since its inception in 2016, SUNRATE has enabled companies to operate and scale both locally and globally in 190+ countries and regions with its cutting-edge proprietary platform, extensive global network, and robust APIs.
With its global business headquarters in Singapore and offices in Hong Kong, Jakarta, London, and Shanghai, SUNRATE partners with the top global financial institutions, such as
Citibank, Standard Chartered, Barclays, J.P. Morgan and is the principal member of both Mastercard and Visa.