TerraPay Secures Malaysian Licence to Boost APAC Cross-Border Payments

4 June 2025

KUALA LUMPUR: TerraPay, a global leader in digital cross-border payments, today announced that it has been granted a Class B licence by Bank Negara Malaysia (BNM).

This milestone marks a pivotal step in TerraPay’s strategic expansion across Southeast Asia, reinforcing its commitment to delivering secure, real-time, and compliant cross-border payment solutions in one of the region’s most dynamic financial hubs.

Malaysia is recognised as one of the largest corridors for cross-border remittances and trade in the Asia-Pacific region. With the newly obtained licence, TerraPay is now well-positioned to meet the country’s growing demand for efficient and transparent cross-border financial services.

The licence allows TerraPay to partner directly with Malaysian banks, licensed payment institutions, and enterprises, enabling seamless inbound and outbound remittances, B2B payments, and wallet payouts.

It also paves the way for deeper collaboration with local financial institutions and fintech companies, providing them with access to TerraPay’s robust, interoperable, and API-driven payments infrastructure.

This infrastructure will empower partners to confidently scale their cross-border offerings, while ensuring full compliance with Malaysia’s regulatory requirements.

“This licence reinforces TerraPay’s commitment to building a seamless and compliant payments ecosystem across the APAC region. Malaysia is a key market for us, and we are excited to deepen partnerships that drive both financial inclusion and innovation,” said Ambar Sur, Founder and CEO of TerraPay.

Sukesh Malliah, Vice President (APAC) at TerraPay, added:

“Securing the Class B licence from Bank Negara Malaysia is a proud milestone in our APAC journey. Malaysia is a strategic market with significant potential for cross-border remittances and trade. "

"This licence enables us to collaborate directly with local banks and financial institutions, delivering real-time, secure, and compliant payment solutions. We remain dedicated to supporting our partners as they scale confidently across borders and continue to foster financial inclusion throughout the region.”

Aligned with Malaysia’s digital financial inclusion agenda, TerraPay’s infrastructure is designed to be future-ready—facilitating real-time transactions, improving the user experience, and expanding financial access for underserved communities.

The company’s technology-first approach ensures seamless integration and scalable growth for its partners.

As a licensed entity under BNM, TerraPay reaffirms its commitment to maintaining the highest standards of regulatory compliance, customer protection, and innovation.

This milestone further strengthens TerraPay’s global regulatory footprint and underscores its mission to simplify global payments—making them accessible for everyone, everywhere.