Airwallex to launch in Indonesia, Vietnam amid Southeast Asia push

Photo credit: Airwallex

Airwallex, a financial and payments tech giant, plans to launch in Indonesia and Vietnam this year after acquiring licensed entities in both markets.

Arnold Chan, the firm’s general manager for Asia Pacific, said Airwallex is building teams locally as it works to get the licenses up and running. The company will use its own brand to operate in those countries.

“We’re putting teams on the ground in these new countries, including business development professionals, to make sure we can serve local needs,” said Chan in a sideline interview with Tech in Asia at Money20/20 in Bangkok.

Airwallex has been actively expanding across the globe, including in Southeast Asia. Last year, it acquired a majority stake in Vietnam’s CTIN Pay, which holds an intermediary payment service (IPS) license, as well as Skye Sab Indonesia, which has a payment service provider license.

Last week, the firm obtained full license approval in Malaysia for its commercial launch.

Unlike in Indonesia and Vietnam, where it entered via acquisitions, Chan said Airwallex has been building its operations in Malaysia from scratch over the past four years. It grew its Malaysia team by 66% in 2025 and plans to double its headcount in the country by 2026.

Meanwhile, in Singapore, where the firm located one of its headquarters, the firm recorded a 107% revenue increase in 2025.

“Southeast Asia is going to be a very strategic market for Airwallex,” Chan said.

“Not just because of the potential but because of all the other merchants that we serve in other parts of the world that are transacting with Southeast Asia,” he added.

Regarding expansion into other countries in the region, Chan said the company is looking into more licenses but cannot disclose in which countries.

The shifting trade flows

Airwallex’s increasing focus on Southeast Asia comes as the region plays a growing role in global trade amid current macroeconomic changes and the war in the Middle East.

“I think now is more important than ever in Southeast Asia because of all the rerouting of trade flows,” Chan said.

He pointed to countries such as Vietnam and Malaysia as markets that could benefit from supply chain diversification, as companies adjust operations in response to geopolitical and economic changes.