Sterling Mercantile Neo Expands BaaS Platform to 12 New Markets
Expanding the Future of Embedded Banking
Sterling Mercantile Neo, powered by EQIBank, announces the expansion of its Banking-as-a-Service (BaaS) platform to 12 new markets across Southeast Asia and Africa, strengthening its global footprint and bringing licensed digital banking infrastructure to regions with rapidly growing demand for embedded financial services.
This strategic expansion builds upon the platform's existing presence in over 180 countries and reinforces Sterling Mercantile Neo's mission to enable any business to offer regulated banking services under its own brand — without becoming a bank.
New Markets at a Glance
Why This Expansion Matters
Businesses across Southeast Asia and Africa are increasingly seeking digital-first banking solutions that traditional institutions cannot provide. The demand for embedded finance, cross-border payments, and multi-currency accounts is accelerating — and Sterling Mercantile Neo is positioned to meet it.
- Unmet Demand. Many businesses in these regions rely on fragmented, high-cost banking services with limited global reach.
- Regulatory Confidence. Leveraging EQIBank's full banking licence and institutional-grade compliance framework, partners can launch with confidence.
- Speed to Market. The Banking-in-a-Box model enables partners to go live in approximately 10 weeks — not years.
- Revenue from Day One. Partners retain up to 90% of net revenue from onboarding fees, transaction shares, and monthly subscriptions.
The BaaS market in Southeast Asia and Africa is projected to grow at over 25% CAGR through 2028, driven by rising mobile penetration, growing SME populations, and increasing demand for digital financial services.
What Partners Receive
Sterling Mercantile Neo's turnkey BaaS platform provides everything needed to deploy a fully licensed, white-label digital bank:
- Multi-Currency Accounts — Open accounts in USD, EUR, GBP, CNY, HKD, SGD and 100+ currencies with no minimum deposit.
- Cross-Border Payments — Fast settlement with ~90% of transactions completed within one business day at fees of 1–2%.
- Crypto Custody & Trading — Institutional-grade cold storage for Bitcoin, Ethereum, USDT, with crypto-to-cash conversion in approximately 7 minutes.
- Escrow & Trade Finance — Secure buyer-seller settlements and supply chain finance for cross-border commerce.
- White-Label Mobile App — Fully branded banking experience with API dashboard and back-office tools.
Regional Focus: Southeast Asia & Africa
Southeast Asia
With a combined GDP exceeding $3.6 trillion and a digitally-savvy population of over 680 million, Southeast Asia represents one of the world's fastest-growing fintech markets. Sterling Mercantile Neo's expansion enables local businesses, fintechs, and family offices to access global banking rails without building their own infrastructure.
Africa
Africa's financial services landscape is undergoing rapid transformation, with mobile money adoption leading the world. The continent's growing trade corridors — particularly between Africa, China, and the Middle East — demand modern cross-border payment solutions that Sterling Mercantile Neo is uniquely positioned to deliver through its partnership with UBA Group and global correspondent banking relationships.
Looking Ahead
This expansion is part of Sterling Mercantile Neo's broader strategy to bring licensed, compliant, and profitable banking infrastructure to underserved markets worldwide. With EQIBank's established correspondent banking relationships — including DBS, Wells Fargo, Citi, BNY Mellon, and UBA — the platform ensures seamless connectivity across the global financial system.
As Co-Founder & President Marco Pearman Parish notes: "It's not where you were born, it's where you're going — you can be Sterling."
Ready to Launch Your Own Neo Bank?
Discover how Sterling Mercantile Neo's BaaS platform can turn your brand into a fully regulated digital bank in approximately 10 weeks.
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