STICPAY Expands to Global Markets with New Labuan FSA License

Global E-wallet service provider, STICPAY, has acquired its Labuan Financial Services Authority licence and has successfully been registered as a money brokering and payment system operator that’s compliant with Labuan IBFC laws. In addition to being an FCA-regulated service provider covering the Europe Economic Area, this LFSA licence enables STICPAY to extend its services to developing markets across Asia. 

“The Labuan IBFC is at the forefront of new financial digitalisation and its services facilitate various digital financial-related businesses, while unlocking regional opportunities,” said STICPAY Customer Service Director, James Bay. “Southeast Asia is estimated to be the 4th largest economy by 2050. By being licensed under the LFSA, we can gain access to the region via Labuan IBFC and expand our core business. At the same time, The Labuan IBFC complies with the latest global regulatory standards to protect businesses and consumers.”

This accreditation allows businesses to achieve KYC and AML verification more quickly, making for a more streamlined compliance process overall while giving merchants and customers alike increased compliance peace of mind.

“We at STICPAY are doing our best to look for ways to improve our services continuously, and we believe that this newly acquired licence is proof of our commitment to achieving the highest level of business integrity to serve our clients better.”

To learn more about the licence or STICPAY’s range of digital and E-wallet payment solutions, contact STICPAY at account@sticpay.com.