Digital finance group Skyro has launched digital cash loans in Malaysia, its second market in Southeast Asia after the Philippines. In September 2026, the company received approval from Malaysia's Ministry of Housing and Local Government (KPKT) to provide online moneylending services. Skyro plans to add a set credit limit for repeat borrowers, potentially before the end of 2026.
Loans of up to MYR 1,000 at launch
New customers can borrow up to MYR 1,000 (USD 250), with repayment terms of up to four months. Skyro plans to raise borrowing limits gradually for eligible customers, potentially to MYR 10,000 (USD 2,500), as it builds its local loan portfolio. Loans carry a fixed interest rate of 1.5% per month, and customers can review the approved amount, monthly instalments, fees, and total repayment before signing.
The application process takes place entirely in the Skyro mobile app. Malaysian citizens with a valid MyKad and regular income can apply by verifying their identity and submitting income documents. Skyro assesses each application based on the applicant's income, existing financial commitments, and credit history. According to the company, most applicants receive a decision within minutes, with approved funds sent directly to their bank accounts.
Building on its Philippine business
Skyro has operated in the Philippines since 2022, where it has more than seven million registered users and an active loan portfolio of more than USD 200 million. The company says it reached operational break-even in the Philippines just over three years after launch. In Malaysia, it plans to use insights from its initial cash loan product to adapt its offering to local borrowing needs.
Arsen Liametov, Co-founder and Co-CEO of Skyro, said the company wants to give Malaysians another option when they need short-term financing for needs such as home repairs or unexpected expenses. He added that making credit available is only part of the offering, and that customers should understand what they are borrowing, what it will cost, and how they will repay it before deciding. The launch comes as Malaysia steps up efforts against illegal moneylending and fraudulent loan apps.
