SUNRATE, a global payment and treasury management platform, announced that it has signed an agreement with Hong Kong’s Office for Attracting Strategic Enterprises (OASES), becoming a strategic enterprise in the city.
Image source: SUNRATE
Hong Kong as a Base for Operations
Hong Kong is an international financial centre with an established regulatory framework and compliance regimes, including those related to sectors such as virtual assets and Web3. The city also has access to global talent, an open market environment, and geographic proximity to the Greater Bay Area, linking Mainland China with international markets.
SUNRATE stated it will increase its investment in Hong Kong and continue developing its fintech capabilities, supported by the Hong Kong SAR Government’s policy framework.
“We are pleased to join OASES and establish Hong Kong as a key base in our global strategy,” said Paul Meng, Co-founder and CEO of SUNRATE. “Building on Hong Kong’s unique advantages, we will continue to strengthen our core cross-border payment and global treasury management business, while expanding into emerging areas such as blockchain and Web3 digital finance, and exploring compliant innovation in these fields.”
Paul Meng (SUNRATE CEO) shares insights on the company update. Image source: SUNRATE
Operations and Network Development
SUNRATE said it will use Hong Kong as an innovation centre, expand collaboration within the local ecosystem, and continue developing its global payment network.
Founded in 2016, SUNRATE provides payment and treasury management services for businesses. The company operates a payment network supporting businesses in more than 190 countries and regions. It recently obtained a payment licence in China and launched a global operations centre in Kuala Lumpur. Besides that, SUNRATE has offices in Singapore, Jakarta, Hong Kong, Shanghai, and London.
SUNRATE holds licences and regulatory approvals in multiple markets and works with financial institutions, including Citibank, Standard Chartered, Barclays, and J.P. Morgan. The company is also a principal member of Mastercard and Visa.
About Office for Attracting Strategic Enterprises (OASES)
The Office for Attracting Strategic Enterprises (OASES) is a government body in Hong Kong set up to attract high-impact companies to establish or expand operations in the city. It typically works with companies in sectors like fintech, artificial intelligence, advanced manufacturing, life sciences, and Web3.
OASES was launched in 2022 under the Hong Kong SAR Government as part of efforts to strengthen Hong Kong’s position as an international business and innovation hub.
