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Hong Kong-based multinational financial settlement network EMQ Inc. has reportedly expanded its operations into South Korea to increase access to its global network ecosystem and offer more transparent as well as efficient cross-border payout capabilities to its consumers across the globe.
According to reliable sources, the company plans on leveraging the EMQ Connect API to provide access to real-time AML (anti-money laundering) screening along with automated workflows embedded with FX (foreign exchange) capabilities. These functionalities are capable of supporting a multitude of front-end use cases and will enable global businesses to optimize their operational efficiency by automating their workflows.
The recent venture comes along the heels of EMQ’s series of expansion initiatives aimed at boosting its global network infrastructure, which is established in more than 80 global markets across North America, Europe, Africa, and Asia-Pacific.
Sources confirmed that EMQ currently offers cross-border payment solutions to the United Kingdom, Philippines, Nepal, Vietnam, Cambodia, Indonesia, India, Singapore, and China, with around 19 markets in Africa.
CEO and co-founder of EMQ Max Liu was reported saying that South Korea’s flourishing retail e-commerce sector coupled with the company’s agile network infrastructure will facilitate seamless cross-border payouts in local currencies without multiple intermediaries.
Liu added that the recent venture marks a significant milestone in the company’s course of global expansion and will strengthen its market presence in Asia-Pacific.
It is also worth mentioning that EMQ has been registered as a Money Service Business in Canada and is officially licensed in Indonesia, Singapore, and Hong Kong. Moreover, it was recognized as a part of Taiwan’s Regulatory Sandbox by the FSC (Financial Supervisory Commission).
About EMQ Inc.
Since its establishment in 2014, EMQ focuses on offering financial services such as payroll, remittance, procurement, merchant settlement, and e-commerce. The organization’s primary motive is to provide an efficient financial network ecosystem in order to offer affordable and transparent cross-border payment solutions that comply with relevant regulatory standards.
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