American money transfer company MoneyGram International has launched its website in Singapore to support digital expansion in the region.

The move will help its consumers use the website to send funds globally.

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Singapore is one of the largest remittance markets in the world registering more than $7.2bn in outflows annually.

With the launch of the website in Singapore, MoneyGram now has digital presence in 65 countries. The company aims to better its online footprint further in the coming year.

MoneyGram COO Kamila Chytil said: “Accelerating digital growth and growing our direct to consumer business is core to our company strategy.

“Customers are increasingly valuing the investments we’ve made to enhance their experience, and we’re thrilled to bring these capabilities to the digitally-savvy population of Singapore to send money to friends and family around the world.”

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A cross-border P2P payment and money transfer service provider, MoneyGram enables fund transfers to around 200 countries and territories.

In another development, the company received a $9m investment from the Brink’s Company. With the investment, the two companies enter into a strategic partnership to explore mutually beneficial commercial opportunities.

Last month, MoneyGram partnered with Industrialbank to launch account deposit service in Ukraine.

The service allows customers to send funds directly to bank account of any recipient.