EMQ, Hong Kong-based financial settlement network, announced the launch of its high transaction value cross-border settlements in Japan.

This launch will enable global businesses to send a maximum of JPY30 million directly into local banks. This enhancement further expands their global payment capabilities into Japan, creating opportunities for global businesses to capture new opportunities across the markets.

The launch follows their recent fundraising round of US$20 million Series B led by WI Harper Group. EMQ was also accepted into Taiwan’s Regulatory Sandbox by the Financial Supervisory Commission in Taiwan.

“Japan, the third-largest economy in the world, is an important market in our global growth strategy as we continue to see encouraging signs of recovery across the region amidst the new normal. For global businesses, they will require a network partner like EMQ with international capabilities and local expertise to ensure prompt payments in local currencies in order to scale across multiple markets,”

said Max Liu, co-founder and CEO of EMQ.

Already live in Japan, the expanded payments capabilities is said to further allow EMQ to streamline and process international payments for businesses anywhere in the world through one single integration with EMQ Connect API.

Their API-powered solutions can purportedly settle any cross-border transactions and support a multitude of front-end use cases, while enabling global businesses to streamline their workflows for enhanced user experience.

With a network footprint touching billions of people, EMQ’s network spans over 80 key global markets throughout Asia Pacific, Africa, Europe and North America.

The company is currently licensed in Hong Kong, Singapore, Indonesia and registered as a Money Service Business in Canada.