SINGAPORE - Media OutReach Newswire - 15 August 2025 - SUNRATE, the global payment and treasury management platform, today announced it has secured a payment business licence in China following its successful acquisition of a 100% stake in Transfar Pay, a unit of Shenzhen-listed Transfar Group. The RMB 315 million (USD 43.8 million) acquisition has received approval from relevant Chinese regulatory authorities. This transaction had been previously announced by the Transfer Group in an exchange filing dated April 1, 2025.

"This acquisition represents a strategic step in SUNRATE's ongoing commitment to enhancing our global licensing framework and ensuring compliant operations in all jurisdictions, whether through direct licensing or strategic partnerships," said Paul Meng, co-founder at SUNRATE.

With the addition of this licence, SUNRATE gains greater access to one of the world's most important and dynamic markets. This further complements SUNRATE's regulatory presence in key jurisdictions including Singapore, Hong Kong SAR, the United Kingdom, and Indonesia, with further regulatory milestones in other jurisdictions to be announced in due course.