SG fintech firm M-Daq expands into Japan with new office

M-Daq Global, a Singapore-based fintech firm that provides forex solutions, has opened an office in Japan as part of its international expansion plans.

Photo credit: M-Daq

The move comes after the company expanded into European markets by signing an agreement with London-based trading platform Turquoise to provide multiasset services.

Founded in 2010, M-Daq turned profitable in 2018. The company has processed over US$32 billion in cross-border transactions over 45 markets since the launch of its Aladdin FX ecommerce solution in 2016.

M-Daq expects that its presence in the Japanese city of Fukuoka will attract partnerships as the popular tourist destination is geographically close to Korea, China, and Taiwan. “The opportunity to establish partnerships with the corporates in the district will create the perfect springboard for M-Daq to launch Aladdin,” the company said.

The fintech firm aims to establish an entrepreneurial hub in Fukuoka. In line with its expansion plans, M-Daq has initiated discussions with the administration and transportation institutions of Fukuoka to improve user experience in retail and travel transactions.

In partnership with the Fukuoka Stock Exchange, M-Daq is set to explore the implementation of Trading the Right Chart, a solution for securities trading. It has also entered into a partnership with NTT Communications to launch a Japan-based rate-guaranteed forex information and transaction data service.

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