Airwallex, a Hong Kong-based fintech platform, has announced its official launch in Singapore, coming months after it secured a Major Payment Institution License from the city-state’s central bank.
The Airwallex team / Photo credit: Square Peg
With the rollout, Airwallex said that businesses in Singapore will now have access to its suite of payments services. These include global account issuance, domestic and cross-border money transfers, multi-currency wallets, and online payments acceptance.
The company added that its global customers may now receive funds in Singapore dollars, making them more accessible to users in the country.
Other Airwallex services, including multi-currency company and employee cards, spend management, and an API suite for embedded payments and financial services, are also set to launch.
Airwallex was founded in 2015 by Jack Zhang and Max Li. Since then, the company has onboarded over 1,000 employees in 19 locations globally that serve customers across Asia Pacific, Europe, and North America. It expects its Singapore team to quadruple by the end of the year.
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Airwallex also recently secured a money services business license from the Central Bank of Malaysia, which paved the way for the expansion of its offerings into the country.
Editing by Collin Furtado and Lorenzo Kyle Subido
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