Asia-based B2B digital payments platform Sunrate has received In-Principle Approval (IPA) for a money services business licence from Bank Negara Malaysia.

With this approval, Sunrate aims to establish Malaysia as its global operations centre and expand its team throughout the region. The company intends to support businesses across the country through cross-border payments and treasury solutions, enhancing their reach and capabilities. Currently, Sunrate operates in Singapore, Indonesia, Hong Kong, the UK, and mainland China, providing payment and treasury management services.

The decision to expand into Malaysia is a strategic move due to its favorable regulatory environment for international fintech operations. In 2016, Bank Negara Malaysia initiated a regulatory sandbox as part of its broader framework to support international fintech activities. This approach underscores the region’s commitment to fostering a robust and scalable environment across Southeast Asia.

In addition to Malaysia, Sunrate also entered Vietnam in August 2024 with the aim of accelerating growth across the Asian market. The company formed strategic partnerships with local licensed financial institutions to launch its platform, driven by the demand from customers and the operational challenges faced by small and medium-sized enterprises (SMEs) across various industries.

Sunrate’s Treasury Solutions

In January 2025, Sunrate launched additional trading and hedging services through Sunrate Markets Pte., which is licensed by the Monetary Authority of Singapore (MAS) for Capital Markets Services (CMS). These treasury solutions are designed to support businesses in conducting foreign exchange trading and implementing effective hedging strategies.