EMQ, a Hong Kong-based cross border payments settlement company has joined Singapore’s FAST network (Fast and Secure Transfers), an electronic fund transfer network which enables immediate and real-time fund transfer between participating banks.
The move by the company will enable businesses to accelerate cross-border payments on this network and expand EMQ’s footprint in the Southeast Asia market. Businesses will gain access to 19 banks under FAST network and coverage over Malaysia with API integration. The network also enables businesses to meet local regulatory requirements.
“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,” said Co-founder and CEO of EMQ Max Liu.
EMQ network is currently in Europe, U.K., Singapore, Malaysia, China, Hong Kong, India, Indonesia, Japan, Vietnam, Cambodia, Thailand, Taiwan and the Philippines. The company plans to expand in Africa and America in the coming months.