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SUNRATE, a global payment and treasury management platform, has been granted a Class B licence under the Money Services Business Act 2011 by Bank Negara Malaysia, allowing the company to provide regulated money remittance services in the country.
The licence marks a step in SUNRATE’s expansion in Malaysia and strengthens its ability to offer cross-border payment services to businesses operating domestically and internationally.
With the approval, SUNRATE will be able to operate within a regulated framework in Malaysia, supporting secure and compliant payment flows across borders.
The company also highlighted its existing operations in Kuala Lumpur, where it runs a Shared Services Centre as part of its global network. The centre supports functions including operations, customer experience, product development, and business growth.
“Securing regulatory approval in Malaysia is an important step forward in our global strategy,” said Paul Meng, Co-founder and CEO of SUNRATE. “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.”
SUNRATE stated that Malaysia’s growing digital trade and cross-border commerce activity is contributing to increased demand for regulated financial infrastructure.
Earlier this month, the company relocated its Kuala Lumpur operations to a larger office at Menara Binjai, to house expanded local teams across operations, customer experience, product development and regional business support as Malaysia’s fintech sector accelerates.
SUNRATE currently operates in more than 190 countries and regions and maintains offices in Singapore, Kuala Lumpur, Jakarta, Hong Kong, Shanghai, and London. It partners with financial institutions including Citibank, Standard Chartered, Barclays, and J.P. Morgan, and is a principal member of Mastercard and Visa.
