Airwallex launches international payment services in Singapore

Thursday 13 January 2022 11:00 CET | News

Australia-based fintech Airwallex has announced its official launch in Singapore after receiving its grant of a Major Payment Institution license by the Monetary Authority of Singapore.

Singapore businesses can now benefit from Airwallex’s suite of global payments services, including global account issuance, domestic and cross-border money transfer at market-leading rates, multi-currency wallets, and online payments acceptance.

Airwallex's global customers will also be able to receive funds in Singaporean currency, making their businesses accessible to the Singapore market. Other offerings such as multi-currency company and employee cards, spend management, and an API suite for technology-first businesses that require embedded payments and financial services will be progressively rolled out.

Airwallex will continue to scale its offerings and solutions across the ASEAN region. In September 2021, the company secured a money service business (MSB) license in Malaysia with an expected launch in the coming months, raised USD 300 million in its Series E and E1 fundraising rounds, and increased its valuation to USD 5.5 billion.

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Keywords: Airwallex, Monetary Authority of Singapore (MAS), product launch, expansion, cross-border payments, online payments, money transfer
Categories: Payments & Commerce
Companies: Airwallex, MAS
Countries: Singapore
This article is part of category

Payments & Commerce




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