Airwallex wins Malaysia licences for full offering

Airwallex has received e-money issuing and Class A licences from Bank Negara Malaysia, allowing the financial services firm to launch its full commercial offering in the country.

The approvals expand Airwallex's regulatory standing in Malaysia, where it already holds a Class B Money Services Business licence and Registered Merchant Acquirer status. They allow the company to offer a broader set of services to Malaysian businesses and overseas companies operating in the market.

The new permissions give Airwallex a wider operational base in one of South East Asia's more active digital economies, taking it from a more limited product set to a fuller local offering.

Malaysian businesses will now be able to use Airwallex for payments, multi-currency accounts and foreign exchange through a single platform. The offering is aimed at businesses that need to collect, manage and send funds across borders.

Malaysia has become an increasingly important market for financial technology groups as cross-border trade and digital commerce grow. Its economy is heavily tied to international trade, while local companies face growing pressure to manage transactions across multiple currencies and jurisdictions.

Airwallex said demand in Malaysia has risen with that trend. It processed more than RM2 billion in remittance transaction volume in 2025, as more Malaysian businesses used its services for cross-border activity.

Local expansion

Airwallex has also expanded its local workforce, increasing its Malaysia team by 66% in 2025 and recently moving into a new office with capacity for more than 160 employees.

It plans to continue building its presence in the country, reflecting what it described as strong momentum in the local market. The broader push comes as financial firms seek regulatory approval not only to process payments but also to offer a wider range of business finance tools under domestic supervision.

Airwallex serves more than 200,000 companies globally. Founded in Melbourne, the group now has co-headquarters in San Francisco and Singapore and holds 80 licences across North America, Europe, the Middle East and Asia-Pacific.

Approval from Malaysia's central bank gives Airwallex a stronger foothold in a market where digital payments, online commerce and regional business expansion have all increased demand for regulated financial intermediaries. For non-bank providers, regulatory coverage is a key factor in determining which products they can bring to market.

The latest approvals could also intensify competition in Malaysia's business payments sector, where banks, specialist remittance providers and technology-led platforms are all seeking a larger share of cross-border transaction flows. Companies that trade internationally are looking for providers that can combine local compliance with support for multiple currencies and overseas payments.

Arnold Chan, General Manager, Asia-Pacific, Airwallex, said the company sees Malaysia as a significant market in the region. "Malaysia is a strategic market for Airwallex, and these approvals enable us to bring our full financial infrastructure to businesses on the ground," he said.

Chan added that the company wants to support local firms expanding abroad. "We're excited to support local businesses in scaling internationally, and to play a role in strengthening Malaysia's position as a hub for regional and global growth," he said.

Holding both approvals strengthens Airwallex's position as a regulated non-bank financial services provider for businesses in Malaysia. The broader licence set enables it to support more complex business payment and treasury needs through one system rather than separate providers.

Chan said the company's regulatory standing gives it broader reach in the market. "As one of the few full-stack, non-bank players with this level of regulatory coverage, we are uniquely positioned to support businesses as they grow beyond borders," he said. "From helping companies manage multi-currency collections to enabling seamless global payouts at scale, we provide the infrastructure businesses need to operate more efficiently and with greater control."