SUNRATE Secures In-Principle MSB License from Bank Negara Malaysia for Remittance Services, Establishes Global Hub

SUNRATE has obtained approval-in-principle for a Class B Money Services Business (MSB) license from Bank Negara Malaysia (BNM).

This authorization enables the company to deliver remittance services tailored for businesses operating in Malaysia.

SUNRATE's Expansion Strategy in Southeast Asia

Founded in 2016, SUNRATE is a leading global platform for B2B payments and treasury management across 190+ countries.

Prior to this, the firm secured licenses in Singapore, Indonesia, Hong Kong SAR, the UK, and Mainland China.

The new license positions Malaysia as SUNRATE's central hub for global operations in Kuala Lumpur.

Boosting Cross-Border Efficiency for Businesses

"Malaysia is an important part of our global strategy... scalable financial infrastructure from the heart of Southeast Asia," stated Joshua Bao, Co-founder of SUNRATE.

This development allows Malaysian enterprises seamless access to fast, secure, and cost-effective cross-border transactions.

SUNRATE plans to rapidly scale its Malaysian workforce across critical functions to support this growth.

Historically, partnerships with giants like Citibank and J.P. Morgan have powered the platform's reliable infrastructure.

Looking forward, the license enhances SUNRATE's capability to meet surging demand for B2B remittance in high-growth Asian markets.

The move solidifies Malaysia's emergence as a premier fintech innovation center amid regional economic expansion.