Singapore based global financial settlement network, EMQ has announced enhancements to its cross-border payments solution which will help businesses both locally and globally to expand their reach and improve their payments capabilities.

The company’s Fund Transfer Operator license from Bank Indonesia, which helps businesses to send and receive payments between Singapore and 80 other nations worldwide.

“Across Southeast Asia, the Internet economy continues to grow at an unprecedented pace with Indonesia at the forefront of this growth, valued at US$130 billion by 2025” said Max Liu, co-founder and CEO of EMQ. “Leveraging our Fund Transfer Operator license and an enterprise grade turnkey solution, we are laying the foundation for these next generation enterprises to enrich their product experiences and expand their reach internationally.”

Businesses and SMEs in Indonesia using EMQ’s financial settlement network and API will be able to make payments in and out of the nation more quickly and transparently. The company recently got a licence in Hong Kong, Singapore, Indonesia and got registered as Money Service Business in Canada.

“Empowering next-generation enterprises such as fintech start-ups remains an important priority for our operations in this region. The continued expansion of EMQ’s global network proposition underscores our commitment to enable global businesses to send money anywhere in the world and to any end point,” Liu added.