HONG KONG & SINGAPORE & KUALA LUMPUR, Malaysia--(BUSINESS WIRE)--EMQ, a global financial settlement network, today announced that it is augmenting its footprint across Southeast Asia with direct connectivity to Singapore’s Fast and Secure Transfers (FAST) network and extensive bank coverage across Malaysia. This will provide global businesses with enhanced coverage for the growing digital payments ecosystem in the region.
“As the digital transformation journey continues in Southeast Asia, enterprises today are increasingly international in scale to capitalize on the cross-border business opportunities. It is fuelling the explosive growth in digital payments, which is expected to exceed $1 trillion by 20251. Hence, the ability to make and receive cross-border payments quickly and transparently is critical for businesses to thrive globally,” said Max Liu, Co-founder and CEO of EMQ. “Our new expansion across Singapore and Malaysia will further complement our capabilities in Southeast Asia and we are well-positioned to offer businesses direct payment access to international markets.”
Powered by EMQ's global financial settlement network, businesses can now have instant access to 19 banks under Singapore’s FAST and extensive bank coverage across Malaysia under one single API integration. EMQ’s Connect API integration platform is designed to streamline the complexity of making cross-border payments by providing solutions that can scale to meet the needs of businesses with high transaction volumes, enabling them to control their workflows for a seamless user experience. Businesses on EMQ’s platform can also benefit from greater security and comprehensive compliance to meet local regulatory requirements without the need to manage complex network infrastructure.
“We have consistently pursued operational excellence and network enhancement to deliver integrated cross-border settlement solutions and superior product experiences for our customers,” Liu added. “Our expansion across Southeast Asia marks yet another significant milestone in our global growth strategy.”
The latest developments come on the heels of a recent series of plans to bolster EMQ’s network infrastructure globally, which currently spans across Europe, U.K., Singapore, Malaysia, China, Hong Kong, India, Indonesia, Japan, Vietnam, Cambodia, Thailand, Taiwan and the Philippines. In the coming months, the company will expand across Africa and the Americas.
EMQ operates a global financial settlement network that provides a faster, more affordable and transparent cross-border settlement solution for businesses around the world, while adhering to complex regulations and compliance standards in different markets. Our flexible network infrastructure has been built to effectively settle any cross-border movement of capital and can be deployed across multiple vertical industries for a broad range of services, including e-commerce, merchant settlement, procurement, remittance, payroll, etc. www.emq.com.
1 Google, Temasek, Bain & Company e-Conomy SEA 2019 Report, Temasek. 2019.