Aleta Planet Wins Key Licenses to Expand Into Malaysia

Aleta Planet Wins Key Licenses to Expand Into Malaysia

Singapore-based fintech firm Aleta Planet has secured regulatory approval from Bank Negara Malaysia (BNM) to offer remittance and e-money services, marking a significant step in its regional expansion and positioning Malaysia as its second ASEAN hub.

The company was granted a Money Services Business Class B license alongside an E-Money Issuer license, it says in a statement. These approvals will allow Aleta Planet to broaden its offerings in Malaysia, complementing its existing merchant acquirer license, which already enables the processing of credit and debit card payments.

Ryan Gwee, founder and group chairman of Aleta Planet, described the approvals as a milestone in the company’s growth strategy. «Securing this approval from Bank Negara Malaysia is a key milestone for Aleta Planet as we expand our footprint in the region,» Gwee said. «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.»

Rapidly Expanding Sector

Malaysia’s digital payments sector is expanding rapidly. Total transaction value is projected to reach RM1.13 trillion (approximately $240 billion) by 2026, driven by strong trade activity and increasing adoption of digital financial services. The country’s total trade surpassed RM3 trillion in 2025, while cross-border e-commerce now accounts for nearly 40% of digital transactions.

At the same time, non-bank e-remittance services are seeing steady growth. Annual volumes have risen 11% to RM14.1 billion, reflecting growing demand for scalable alternatives to traditional banking channels as Malaysia’s digital economy matures.

Aleta Planet said the new licenses will enable it to better support Malaysia’s economic growth by facilitating high-value trade and payment flows. The company plans to focus on serving Chinese investors and tourists entering Malaysia, as well as Malaysian exporters in sectors such as machinery, technology, and agriculture. Its services aim to streamline international settlements and remittance processes.

Meet the Needs of Malaysian Businesses

Building on its experience in Singapore, Aleta Planet is tailoring its platform to meet the needs of Malaysian businesses. The company’s broader expansion strategy centers on three areas: scaling trade and travel flows between Malaysia and Singapore; strengthening cross-border payments involving Malaysia and China, particularly in trade, tourism, and student remittances; and supporting remittance and investment flows across ASEAN.
With the new approvals in place, Aleta Planet is positioning itself to play a larger role in Southeast Asia’s increasingly interconnected financial ecosystem.