Airwallex, a cross border payments company, announced the launch of its cross-border payment services in Malaysia today.
The company had managed to secure a money services business license from Bank Negara Malaysia in August last year.
Initially, qualified Malaysian businesses will be given access to Airwallex’s fast, transparent and cost-effective foreign exchange conversions and payouts in more than 130 countries, enabling them to grow and operate globally.
Airwallex said that it will continuously extend the availability of its product offerings to more businesses over the next few months.
This announcement marks Airwallex’s ongoing plans for a Southeast Asia expansion.
Earlier this year, Airwallex announced it was open for business in Singapore shortly after receiving a Major Payment Institution License from the Monetary Authority of Singapore.
Airwallex was founded in Melbourne in 2015, and in the past six years, the company has secured more than US$800 million in funding and a valuation of US$5.5 billion.
