Aleta Planet Secures Key Malaysian Licenses to Accelerate ASEAN Expansion
BNM approvals position Singapore fintech as a cross-border payments and remittance player in Malaysia
Freepik
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur Asia Pacific, an international franchise of Entrepreneur Media.
Singapore-based fintech company Aleta Planet has received regulatory approval from Bank Negara Malaysia (BNM), marking a major milestone in its regional expansion strategy and establishing Malaysia as its second key ASEAN hub.
Receives dual licenses for remittance and e-money services
Aleta Planet has been granted a Money Services Business Class B license along with an E-Money Issuer license by the Central Bank of Malaysia. These approvals enable the company to offer remittance and electronic money services in the country, expanding its regulated financial services footprint.
The approvals complement its existing merchant acquiring license in Malaysia, allowing the firm to process credit and debit card payments for businesses.
Strengthens integrated cross-border payments offering
According to the company, the new licenses will enable it to provide a more comprehensive payments ecosystem across remittance, merchant acquiring, and digital payments.
“As a licensed e-money issuer and merchant acquirer, we can now offer a more complete payments solution,” said Ryan Gwee, Founder and Group Chairman of Aleta Planet. “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.”
Supports expansion into high-growth Malaysian digital payments market
Malaysia’s digital payments sector continues to expand rapidly, with total transaction value projected to reach RM1.13 trillion (approximately US$240 billion) by 2026. Growth is being driven by increased trade activity, rising e-commerce adoption, and digital financial services penetration.
Cross-border e-commerce now accounts for nearly 40% of digital transactions in the country, while non-bank e-remittance services have grown 11% annually to RM14.1 billion, reflecting increasing demand for alternative financial channels.
Targets cross-border trade, tourism, and ASEAN remittance flows
Aleta Planet plans to leverage its expanded capabilities to serve key corridors including:
- China–Malaysia trade, tourism, and student remittances
- Singapore–Malaysia cross-border commerce and travel flows
- Broader ASEAN remittance and investment networks
The company will focus on supporting Malaysian exporters in sectors such as machinery, technology, and agriculture, while also enabling smoother international settlement processes.
Expands ASEAN growth strategy beyond Singapore
With the latest regulatory approvals, Aleta Planet strengthens its position within Southeast Asia’s evolving digital financial ecosystem. The company’s expansion strategy is centered on scaling cross-border payments infrastructure and enabling more efficient regional financial connectivity.
About Aleta Planet
Aleta Planet is a Singapore-based fintech company offering cross-border payment solutions, merchant acquiring services, and digital remittance capabilities across Asia.
Singapore-based fintech company Aleta Planet has received regulatory approval from Bank Negara Malaysia (BNM), marking a major milestone in its regional expansion strategy and establishing Malaysia as its second key ASEAN hub.
Receives dual licenses for remittance and e-money services
Aleta Planet has been granted a Money Services Business Class B license along with an E-Money Issuer license by the Central Bank of Malaysia. These approvals enable the company to offer remittance and electronic money services in the country, expanding its regulated financial services footprint.
