Airwallex gains MAS licence

Monday 8 November 2021 11:25 CET | News

Airwallex has clinched a licence from the Monetary Authority of Singapore (MAS) and will be launching its services in the island republic in 2022.

This will allow Airwallex to provide financial services such as account issuance, domestic and cross-border money transfer, merchant acquisition, and e-money issuance.

Airwallex will roll out its services across Southeast Asia, with offerings including multi-currency wallets, company and employee cards among others for small and medium-sized enterprises. The fintech startup is also looking to roll out applications programming interfaces for large enterprises as well.

This entry into Singapore comes after Airwallex's entry into Southeast Asia with a Money Service Business licence in Malaysia. The startup has also recently raised USD 200 million in a Series E funding round, bringing its valuation up to USD 4 billion.

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Keywords: Monetary Authority of Singapore (MAS), Airwallex, API, startup, fintech, SMEs, expansion
Categories: Payments & Commerce
Countries: Singapore
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