Home topics news Image provided by Airwallex News Startup News Airwallex payment service is open for business in Singapore Heidi Heck January 14, 2022 Yesterday, leading Australian-founded fin-tech platform Airwallex announced its successful expansion into Singapore. The move follows its grant of a Major Payment Institution (MPI) license by the Monetary Authority of Singapore and a beta launch in November last year. Founded in 2015, Airwallex is one of the fastest-growing fin-tech companies, operating across Asia-Pacific, Europe and North America. The company boasts over 1,000 employees in 19 locations globally, now including Singapore. The Singapore team is expected to quadruple by the end of 2022. What Airwallex expansion means for Singapore Airwallex’s approval will see local Singapore businesses benefit from the platform’s global payments services. Airwallex will progressively introduce a suite of product and service offerings that will enable companies in Singapore to operate and grow globally and across the ASEAN region. These products and features include global account issuance, domestic and cross-border money transfer at market-leading rates, multi-currency wallets, and online payments acceptance. Nazim Ali, CEO of Airwallex Singapore, said, “Singapore has established itself as a major international hub for global technology and innovation, supported by a dynamic business community across startups, major financial service institutions and a growing talent pool. “That said, many Singapore businesses – SMEs or larger enterprises – still face challenges with international payments and are looking for better partners like Airwallex that help them tackle that cross-border payments complexity. “Since we were founded, we