TerraPay, the United Kingdom-based digital cross-border payments, announced Wednesday that it has been granted a Class B license by Bank Negara Malaysia (BNM).

The firm said in a statement that this development marks a pivotal step in its expansion across Southeast Asia, reinforcing its commitment to enabling secure, real-time, and compliant cross-border payment solutions in one of the region’s most dynamic financial hubs.

According to the statement, Malaysia stands as one of the largest cross-border remittance and trade corridors in the Asia-Pacific (APAC) region.

With the new license, TerraPay is now well-positioned to support the country’s growing demand for efficient and transparent cross-border financial services.

The license enables TerraPay to directly partner with Malaysian banks, licensed payment institutions, and enterprises to facilitate seamless inbound and outbound remittances, business to business (B2B) payments, and wallet payouts.

It also empowers the firm to deepen its collaboration with local financial institutions and fintechs, offering them access to its robust, interoperable, and API-driven payment infrastructure.

This will enable partners to scale their cross-border offerings with confidence, while ensuring compliance with Malaysia’s regulatory standards.

“This license reinforces TerraPay’s commitment to building a seamless and compliant payments ecosystem across APAC,

“Malaysia is a key market, and we are excited to deepen partnerships that drive financial inclusion and innovation,” said Ambar Sur, Founder and Chief Executive Officer of TerraPay.

Sukesh Malliah, Vice President (APAC) at TerraPay, said that securing the Class B license from Bank Negara Malaysia is a proud milestone in the firm’s APAC journey.

He noted that Malaysia is a strategic market with immense potential for cross-border remittances and trade.

“This license empowers us to directly collaborate with local banks and financial institutions, delivering real-time, secure, and compliant payment solutions,

“We remain committed to driving financial inclusion and innovation across the region, while enabling our partners to scale confidently across borders,” he added.

Aligned with Malaysia’s digital financial inclusion goals, TerraPay said its infrastructure is designed to be future-ready, supporting real-time transactions, enhancing customer experience, and promoting financial access for underserved communities.

It added that the company’s technology-first approach ensures that partners can integrate quickly and scale efficiently.

As a licensed entity under BNM, the firm reaffirms its dedication to upholding the highest standards of compliance, customer protection, and innovation.

It said this milestone further strengthens its global regulatory footprint and underscores its mission to simplify global payments for everyone, everywhere.

TerraPay is a payment firm provides a single connection to one of the most expansive cross-border payment networks regulated in over 30 global markets.

The platform enables payments to 150+ receiving countries, 210+ sending countries, over 3.7 billion mobile wallets, 7.5 billion bank accounts, and more than 12 billion cards.

Founded in 2014, the firm has built the global digital wallet interoperable network, driving financial inclusion even in the most remote markets.

It is headquartered in London, with offices in cities like Bangalore, Dubai, Bogota, Dar es Salaam, Kampala, and Singapore.

Backed by leading investors including the International Finance Corporation (IFC), Prime Ventures, Partech Africa, and Visa, TerraPay continues its rapid global expansion.

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