Hong Kong-headquartered EMQ, a globally accessible financial settlement network, recently revealed that it’s planning to connect to Singapore’s Fast and Secure Transfers (FAST) network and also offer services in other Southeast Asian countries such as Malaysia.
EMQ’s solution will allow businesses to easily make digital payments.
Max Liu, co-founder and CEO at EMQ, stated:
“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 fueling the explosive growth in digital payments, which is expected to exceed $1 trillion by 2025.”
“Hence, the ability to make and receive cross-border payments quickly and transparently is critical for businesses to thrive globally. 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.”
EMQ’s settlement network will allow companies to gain instant access to 19 banks via Singapore’s FAST and also use bank coverage across Malaysia through one API integration. EMQ’s Connect API integration will allow users to seamlessly conduct international transactions.
The scalable platform has been designed to meet the requirements of companies with high transaction volumes, allowing them to effectively and efficiently manage their workflows. The platform reportedly complies with applicable regulatory requirements and does not require users 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. Our expansion across Southeast Asia marks yet another significant milestone in our global growth strategy.”
EMQ’s financial network is being used across Europe (including the UK), Singapore, Malaysia, China, Hong Kong, India, Indonesia, Japan, Vietnam, Cambodia, Thailand, Taiwan and the Philippines.
EMQ’s management said it’s planning to expand its business operations across North and South America.