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.
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