Ant's WorldFirst secures Bank Negara approval for business licence
The licence will empower Ant International's WorldFirst—an all-in-one digital cross-border payment and treasury account service for global businesses—to operate in Malaysia, adding to its 60+ global licences worldwide.
The licence will enable WorldFirst to expand its product offerings and roll out new services in Malaysia, facilitating international payments, especially in receiving foreign currency payments globally, with a focus on supporting small and medium-sized enterprises (SMEs) to manage their cross-border transactions more efficiently. It further strengthens WorldFirst's capabilities in supporting businesses expanding both into and out of the Malaysian market.
Malaysia's digital economy is now a key growth driver, with e-commerce Gross Merchandise Value (GMV) projected to reach US$16 billion (RM68 billion) by 2025 and US$25 billion by 2030.
The rapid digitalisation is fuelling demand for innovative financial services across Southeast Asia, with Malaysia emerging as a regional leader. WorldFirst finds Malaysian merchants more actively seeking multi-currency solutions and adopting more diverse payment methods than regional peers. They prioritise these key factors: faster transaction settlement, competitive FX rates with hedging solutions and diversified financial product offerings.
Recognising the specific demands of Malaysian merchants, WorldFirst aims to deliver tailored solutions featuring global coverage, secure transactions and operational efficiency—essential foundations for Malaysian SMEs' success in today's digital economy.
Central to this offering is the World Account, WorldFirst's flagship product that combines global payments, collections, FX conversion, and treasury management in one single account. Sellers can effortlessly collect from 130+ marketplaces (including Amazon, Walmart, etc.), while buyers can gain easy payment solutions for international sourcing.
WorldFirst said it has also established localised operations in Malaysia to provide tailored support for SMEs pursuing global expansion. This move aligns with its parent company Ant International's strategic investment in the country, including the launch of a Digital Business Centre focused on harnessing local tech talent to drive global innovation.
'The licence marks a significant milestone in WorldFirst's commitment to Southeast Asia. More importantly, it enables us to better serve Southeast Asian SMEs with secure, compliant cross-border financial services while contributing to the region's digital ecosystem,' said Ant International vice-president and WorldFirst CEO Clara Shi.
In 2025, WorldFirst leverages its experience serving over 1.2 million SMEs worldwide through products like the newly launched World Card with Mastercard. Currently available in other markets, the World Card provides the ease, security, and international reach SMEs need to scale globally while managing spending efficiently.
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