Latest news with #MoneyServicesBusiness
The Sun
6 days ago
- Business
- The Sun
Ant's WorldFirst secures Bank Negara approval for business licence
KUALA LUMPUR: Ant International has obtained approval from Bank Negara Malaysia to carry out business under a Class A Money Services 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.
Associated Press
03-07-2025
- Business
- Associated Press
Sanghoon Oh, CEO of Crypto Fellas, Secures Cryptocurrency Exchange License from Government of Panama
New York, NY, United States, July 3, 2025 -- Sanghoon Oh, Chief Executive Officer of Crypto Fellas, has been granted an official cryptocurrency exchange license by the Government of Panama. The license includes an international Money Services Business (MSB) certification, authorizing the company to offer cryptocurrency exchange services within a regulated framework. The licensing approval enables Crypto Fellas to conduct global virtual asset trading activities in accordance with financial regulatory standards. The company, incorporated in Panama, has completed the foundational elements of its platform, including its security architecture and user verification systems. These components have been designed to align with anti-money laundering (AML) and Financial Action Task Force (FATF) guidelines. Sanghoon Oh is also the CEO of Seoul-based Millionfy Co., Ltd., and has worked since 2018 in blockchain consulting and partnership development across platform-based ventures. With the establishment of Crypto Fellas in Panama, he has formally entered the international digital asset exchange space. The Crypto Fellas exchange is expected to launch in the latter half of 2025. Following the license acquisition, the company has outlined plans to expand operations into Latin America, Asia, and Europe through collaborations with financial institutions, blockchain-based projects, and international partners. About Crypto Fellas Crypto Fellas is a blockchain-based financial technology firm headquartered in Panama, offering digital asset exchange services under a licensed and regulated framework. The company develops infrastructure for virtual asset trading with an emphasis on compliance and system security. About Sanghoon Oh Sanghoon Oh is the CEO of Crypto Fellas and Millionfy Co., Ltd. Based in Seoul, he has been involved in the blockchain and fintech sectors since 2018, focusing on business strategy, global partnerships, and digital finance ecosystem development. Contact Info: Name: Jeffery Han Email: Send Email Organization: Crypto Fellas Website: Disclaimer: This press release is for informational purposes only. Information verification has been done to the best of our ability. Still, due to the speculative nature of the blockchain (cryptocurrency, NFT, mining, etc.) sector as a whole, complete accuracy cannot always be guaranteed. You are advised to conduct your own research and exercise caution. Investments in these fields are inherently risky and should be approached with due diligence. Release ID: 89163490 In the event of detecting errors, concerns, or irregularities in the content shared in this press release that require attention or if there is a need for a press release takedown, we kindly request that you inform us promptly by contacting [email protected] (it is important to note that this email is the authorized channel for such matters, sending multiple emails to multiple addresses does not necessarily help expedite your request). Our dedicated team will promptly address your feedback within 8 hours and take necessary actions to resolve any identified issues diligently or guide you through the removal process. Providing accurate and dependable information is our utmost priority.
Yahoo
02-06-2025
- Business
- Yahoo
PingPong Expands Leading B2B Cross-Border Payments Platform Into Malaysia, Further Unlocking Southeast Asia For Enterprise Clients
PingPong has been granted a Money Services Business Licence Class B from Malaysia's central bank, Bank Negara Malaysia, unlocking a USD $445 billion economy for enterprises, financial institutions, and SaaS companies expanding into and out of Malaysia. This follows PingPong's recent expansion into Indonesia and existing presence in Vietnam, Thailand, Singapore, and the Philippines, further expanding PingPong's comprehensive portfolio of over 60 global licences. KUALA LUMPUR, Malaysia, June 2, 2025 /PRNewswire/ -- PingPong, the world-leading provider of cross-border embedded payment solutions for enterprises, is pleased to announce that it has been granted a Money Services Business Licence from Malaysia's central bank, Bank Negara Malaysia. This latest licence further enhances PingPong's extensive portfolio of over 60 global licences, unlocking even more cross-border opportunities for enterprises on PingPong's platform. Malaysia offers significant growth opportunities for enterprises looking to scale in Southeast Asia. Its GDP is expected to reach $445 billion USD by the end of 2025 and grow by 33% by 2030, reaching $600 billion USD. International trade is a significant part of Malaysia's wealth, valued at 132% of GDP in 2023. Financial services and fintech companies are thriving across Southeast Asia, with Malaysia emerging as a key player. The country ranks third in the region in terms of the number of fintech companies it has, and it is poised for significant growth. Malaysia's fintech sector is projected to double, from $54 billion USD in 2025 to $111 billion USD by 2030, reflecting a robust compound annual growth rate (CAGR) of 16%. Its strategic location, high digital adoption rate, and robust financial sector have made it one of the key growing countries in Southeast Asia. Jianqin Shu, Partner and APAC General Manager at PingPong, said, "As one of the most strategically positioned and rapidly growing economies in Southeast Asia, Malaysia presents an incredible opportunity for enterprises scaling their global operations. Securing a Money Services Business licence positions PingPong at the heart of this growth, empowering us to support Malaysia's expanding fintech and financial services ecosystem, meeting the rising demand for efficient, compliant cross-border payment solutions. This milestone enables us to extend our global reach further and provide enterprises with end-to-end, one-stop payment services." This approval from Bank Negara Malaysia further adds to PingPong's significant portfolio of over 60 global licences across the United States, EU, UK, Hong Kong, mainland China, Canada, Australia, Japan, Singapore, Indonesia and other countries and regions worldwide. About us PingPong was founded in New York in 2015, with the goal of solving the immense challenge of scaling enterprise businesses globally. Fast forward to today, and PingPong has become one of the world's leading global cross-border payments platforms, processing more than $250 billion USD. Our API-first cross-border payments platform integrates with enterprises to send, manage, and receive money faster on a global scale. PingPong currently has 37 offices in 15 countries and 1,500 employees. Our international presence helps businesses solve complex payment needs in every major economy across all time zones. Logo - Sign in to access your portfolio
The Sun
02-06-2025
- Business
- The Sun
PingPong Expands Leading B2B
PingPong has been granted a Money Services Business Licence Class B, from Malaysia's central bank, Bank Negara Malaysia, unlocking a USD $445 billion economy for enterprises, financial institutions, and SaaS companies expanding into and out of Malaysia. This follows PingPong's recent expansion into Indonesia and existing presence in Vietnam, Thailand, Singapore and the Philippines, further expanding PingPong's comprehensive portfolio of over 60 global licences. KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 2 June 2025 - PingPong, the world-leading provider of cross-border embedded payment solutions for enterprises, is pleased to announce that it has been granted a Money Services Business Licence from Malaysia's central bank, Bank Negara Malaysia. This latest licence further adds to PingPong's extensive portfolio of over 60 global licences, unlocking even more cross-border opportunities for enterprises on PingPong's platform. Malaysia offers significant growth opportunities for enterprises looking to scale in Southeast Asia. Its GDP is expected to reach $445 billion USD by the end of 2025 and grow by 33% by 2030, reaching $600 billion USD. International trade is a significant part of Malaysia's wealth, valued at 132% of GDP in 2023. Financial services and fintechs are thriving across Southeast Asia, with Malaysia emerging as a key player. The country ranks third in the region in terms of the number of fintech companies it has, and it is poised for significant growth. Malaysia's fintech sector is projected to double, from $54 billion USD in 2025 to $111 billion USD by 2030, reflecting a robust compound annual growth rate (CAGR) of 16%. Its strategic location, high digital adoption rate, and robust financial sector have made it one of the key growing countries in Southeast Asia. Jianqin Shu, Partner and APAC General Manager at PingPong, said, 'As one of the most strategically positioned and rapidly growing economies in Southeast Asia, Malaysia presents an incredible opportunity for enterprises scaling their global operations. Securing a Money Services Business licence positions PingPong at the heart of this growth, empowering us to support Malaysia's expanding fintech and financial services ecosystem, meeting the rising demand for efficient, compliant cross-border payment solutions. This milestone enables us to extend our global reach further and provide enterprises with end-to-end, one-stop payment services.' This approval adds to PingPong's already significant portfolio of over 60 global licences across the United States, EU, UK, Hong Kong, mainland China, Canada, Australia, Japan, Singapore, Indonesia and other countries and regions worldwide. Hashtag: #PingPong
The Sun
02-06-2025
- Business
- The Sun
PingPong Expands Leading B2B Cross-Border Payments Platform Into Malaysia, Further Unlocking South East Asia For Enterprise Clients
PingPong has been granted a Money Services Business Licence Class B, from Malaysia's central bank, Bank Negara Malaysia, unlocking a USD $445 billion economy for enterprises, financial institutions, and SaaS companies expanding into and out of Malaysia. This follows PingPong's recent expansion into Indonesia and existing presence in Vietnam, Thailand, Singapore and the Philippines, further expanding PingPong's comprehensive portfolio of over 60 global licences. KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 2 June 2025 - PingPong, the world-leading provider of cross-border embedded payment solutions for enterprises, is pleased to announce that it has been granted a Money Services Business Licence from Malaysia's central bank, Bank Negara Malaysia. This latest licence further adds to PingPong's extensive portfolio of over 60 global licences, unlocking even more cross-border opportunities for enterprises on PingPong's platform. Malaysia offers significant growth opportunities for enterprises looking to scale in Southeast Asia. Its GDP is expected to reach $445 billion USD by the end of 2025 and grow by 33% by 2030, reaching $600 billion USD. International trade is a significant part of Malaysia's wealth, valued at 132% of GDP in 2023. Financial services and fintechs are thriving across Southeast Asia, with Malaysia emerging as a key player. The country ranks third in the region in terms of the number of fintech companies it has, and it is poised for significant growth. Malaysia's fintech sector is projected to double, from $54 billion USD in 2025 to $111 billion USD by 2030, reflecting a robust compound annual growth rate (CAGR) of 16%. Its strategic location, high digital adoption rate, and robust financial sector have made it one of the key growing countries in Southeast Asia. Jianqin Shu, Partner and APAC General Manager at PingPong, said, 'As one of the most strategically positioned and rapidly growing economies in Southeast Asia, Malaysia presents an incredible opportunity for enterprises scaling their global operations. Securing a Money Services Business licence positions PingPong at the heart of this growth, empowering us to support Malaysia's expanding fintech and financial services ecosystem, meeting the rising demand for efficient, compliant cross-border payment solutions. This milestone enables us to extend our global reach further and provide enterprises with end-to-end, one-stop payment services.' This approval adds to PingPong's already significant portfolio of over 60 global licences across the United States, EU, UK, Hong Kong, mainland China, Canada, Australia, Japan, Singapore, Indonesia and other countries and regions worldwide.
