Sunrate, a global payment and treasury management platform, has been granted a Class B licence by Bank Negara Malaysia under the Money Services Business Act 2011. This approval allows Sunrate to offer regulated money remittance services in Malaysia, marking a significant milestone in the company’s global expansion strategy.
The licence strengthens Sunrate’s ability to provide secure, compliant, and efficient cross-border payment solutions to businesses both locally and internationally. Paul Meng, co-founder and CEO of Sunrate, stated, “Securing regulatory approval in Malaysia is an important step forward in our global strategy.”
Sunrate has established its Kuala Lumpur operations as a Shared Services Centre, which serves as a core operational backbone supporting key functions such as operations, customer experience, product development, and business growth. This development reinforces Malaysia’s role as a key location for fintech talent and execution on a global scale.
As Malaysia experiences growth in digital trade and cross-border commerce, the demand for reliable and regulated financial infrastructure is increasing. Sunrate is well positioned to support this demand through its unified platform and global network. The expanded regulatory capabilities and the established Shared Services Centre enhance Sunrate’s ability to support both local enterprises expanding internationally and global companies entering the Malaysian market.
