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Airwallex to go after banking licences in the UK and US

Monday 7 April 2025 09:44 CET | News

Financial platform Airwallex has mapped out plans to pursue banking licences in the UK and US, with the company aiming to scale its operations into lending. 

In a bid to further solidify its presence in the banking industry, Airwallex mentioned its intention to apply for a UK banking licence and also go after securing a US one by acquiring a bank. According to information cited by the Financial Times, Airwallex seeks to obtain the UK banking licence due to the region’s favourable market conditions for fintech companies, as well as due to the Financial Conduct Authority’s regulatory capabilities.

Airwallex to go after banking licences in the UK and US

 

When it comes to the US, becoming a regulated bank could pose more difficulties considering the region’s regulators and state licences. As per the same sources, the company is most likely to pursue the regulatory approval by acquiring a US financial institution later on. Officials from Airwallex underlined that the company excluded an IPO in the UK, with it being set on a US listing instead. This decision was based on the US market being the most liquid capital market and the most accessible one globally.

Besides seeking licences in the UK and US, Airwallex recently started offering its services, including staff payroll and payments to suppliers in several currencies, in France and Benelux. Currently, the company intends to roll out its solutions in Ireland and Germany.

Recent news from Airwallex

Just a week before this announcement, Airwallex teamed up with Yuno to work on improving global transactions for businesses. The initiative was set to allow Airwallex to assist Yuno in solidifying its financial service and payment capabilities. On the other hand, the collaboration sought to enable Airwallex to optimise its ability to assist larger enterprises via more scalable cross-border payment solutions.

For more information about Airwallex, please check out their detailed profile in our dedicated, industry-specific Company Database.


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Keywords: banking license, expansion, fintech, digital banking, financial services
Categories: Banking & Fintech
Companies: Airwallex
Countries: United Kingdom, United States
This article is part of category

Banking & Fintech

Airwallex

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