PETALING JAYA: Singapore fintech Aleta Planet said it has secured licences from Bank Negara Malaysia (BNM) to provide remittance and e-money services in Malaysia, which will be its second hub in Asean.
The Money Services Business Class B and an E-Money Issuer licences will allow Aleta Planet to support its expansion in Malaysia, and add to its existing merchant acquirer licence that enables the company to process credit and debit card payments.
Aleta Planet founder and group chairman Ryan Gwee said, “Securing this approval from Bank Negara Malaysia is a key milestone for Aleta Planet as we expand our footprint in the region. As a licensed e-money issuer and merchant acquirer, we can now offer a more complete payments solution. Together with our remittance capabilities, this strengthens our ability to support cross-border trade and deliver a more seamless payment experience for businesses and consumers in Malaysia.”
Malaysia’s digital payments landscape is undergoing a rapid transformation, with total transaction value projected to reach RM1.13 trillion in 2026, according to BNM and Statista, underpinned by robust trade activity.
The country’s total trade value exceeded RM3 trillion in 2025, based on Malaysia External Trade Statistics 2025 released by Ministry of Investment, Trade and Industry, while cross-border e-commerce now accounts for nearly 40% of digital transactions, citing from Malaysia Digital Economy Corporation and JPMorgan payments reports.
Non-bank e-remittance volumes have also grown 11% to reach RM14.1 billion annually, based on BNM’s Annual Report 2023, reflecting increasing demand for scalable, non-traditional payment solutions as Malaysia’s digital economy matures.
The approvals enable Aleta Planet to better support the growth of Malaysia’s economy.
The company said it intends to facilitate high-value trade and payment flows by serving Chinese investors and tourists entering Malaysia, as well as Malaysian exporters, particularly in the machinery, technology and agricultural sectors, by streamlining international settlement and remittance activities.
Building on its proven track record in Singapore, Aleta Planet is tailoring its capabilities for Malaysian businesses as it is looking to establish a second Asean hub to drive deeper regional financial integration.
The company’s expansion strategy focuses on three core pillars – scaling the high-growth trade and travel sectors across Malaysia-Singapore; cross-border payments in trade, travel, and student remittances between Malaysia-China, and remittance and investment flows between Malaysia and Asean.
