Leading global fintech platform, Airwallex, announced that the company has secured a money services business (MSB) licence issued by Bank Negara Malaysia securing Southeast Asia.
Airwallex will offer modern, streamlined and integrated payment solutions for Malaysian businesses of all sizes to efficiently manage their operations in Malaysia.
Impact of Airwallex securing licence in Malaysia
Businesses in Malaysia can enjoy fast, transparent and cost-effective international payments in multiple currencies, empowering operation and growth world wide.
Through the Airwallex platform, they will have the ability to collect funds from customers across the globe in different currencies, convert and pay out into preferred currencies.
This marks a milestone for Airwallex as the company sets its sights on growing its presence in Southeast Asia, with teams in Singapore and Malaysia to support ASEAN businesses.
Airwallex has licences and is operational in Australia, Hong Kong, the UK & EU, and the US.
Commentary on Airwallex’s licence in Malaysia
“For many businesses, operating across borders is expensive, time-consuming and cumbersome. This pain point is exactly why we started Airwallex.”
“From day one, we set out with a purpose and target to empower businesses regardless of size to grow without borders,” said Jack Zhang, CEO and Co-founder at Airwallex.
“Malaysia-based businesses have been looking to tap into Southeast markets to remain competitive, requiring a trusted payment partner for their regional and global expansion.”
“With this new licence, Airwallex aims to replicate the success that it has achieved from servicing leading companies in other regions with businesses in Malaysia.”
“Our solutions will help businesses in Malaysia focus on their global operations and expansion, without the nuances of establishing their own cross-border financial infrastructure.”
Founded in 2015, Airwallex is one of the fastest growing financial technology companies.
Airwallex announced an additional Series D capital raise of US$100 million which increased its valuation to US2.6B. The company has over 900 staff across 12 global offices today.
