Kuala Lumpur, Malaysia – SUNRATE has received a Class B licence under the Money Services Business Act 2011 from Bank Negara Malaysia, allowing the company to broaden its operations in the Malaysian market.
The approval permits SUNRATE to provide regulated money remittance services in Malaysia, strengthening its capacity to support businesses with cross-border payment services that meet local compliance requirements.
The development follows the company’s earlier investment in Malaysia, where it established a Kuala Lumpur-based Shared Services Centre as part of its wider international network. The facility supports several business functions, including operations, customer support, product development and commercial growth.
“Securing regulatory approval in Malaysia is an important step forward in our global strategy,” Paul Meng, Co-founder and CEO of SUNRATE, stated.
“With our Shared Services Centre in Kuala Lumpur already playing a key role in our global operations, this approval allows us to further strengthen our capabilities and deliver seamless, compliant payment solutions to businesses worldwide.”
The licence adds to SUNRATE’s presence in Malaysia by combining regulated financial services capabilities with an established operational base in the country.
Malaysia has seen continued growth in digital trade and international commerce, increasing the need for payment infrastructure that can manage overseas transactions efficiently and within regulatory frameworks.
With its expanded authorisation and local support centre, SUNRATE is positioned to assist Malaysian businesses seeking overseas growth, as well as international firms entering the domestic market.
