TerraPay Secures Class B License from Bank Negara Malaysia to Strengthen Cross-Border Payments in APAC

By Dominic Sow · 3 June 2025

TerraPay, a global leader in digital cross-border payments, today announced that it has been granted a Class B license by Bank Negara Malaysia (BNM). This development marks a pivotal step in TerraPay’s 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. Malaysia stands as one of the largest cross-border remittance and trade corridors in the Asia-Pacific 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, B2B payments, and wallet payouts. It also empowers TerraPay 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 & CEO of TerraPay. Sukesh Malliah, Vice President (APAC) at TerraPay said, “Securing the Class B license from Bank Negara Malaysia is a proud milestone in TerraPay’s APAC journey. 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.” Aligned with Malaysia’s digital financial inclusion goals, TerraPay’s infrastructure is designed to be future-ready, supporting real-time transactions, enhancing customer experience, and promoting financial access for underserved communities. The company’s technology-first approach ensures that partners can integrate quickly and scale efficiently. As a licensed entity under BNM, TerraPay reaffirms its dedication to upholding the highest standards of compliance, customer protection, and innovation. This milestone further strengthens TerraPay’s global regulatory footprint and underscores its mission to simplify global payments for everyone, everywhere.