Kuala lumpur: Airwallex has clinched a Capital Markets Services (CMS) licence from the Monetary Authority of Singapore (MAS), paving the way for its latest offering, Airwallex Yield, to launch in the city-state. With this licence, fintech firms can now offer regulated investment solutions and custodial services to businesses in Singapore through its Airwallex Yield product.

According to BERNAMA News Agency, Airwallex General Manager, Asia Pacific, Arnold Chan stated that this milestone enables the company to assist Singapore businesses in better managing cash and seizing growth opportunities. Chan expressed gratitude to the MAS for their support and trust in the company’s vision. The Airwallex Yield product allows businesses to invest surplus funds in high-quality money market instruments, earning returns while maintaining full liquidity.

The product enables companies to grow multi-currency reserves without opening additional accounts and allows them to shift funds between cash and Yield accounts on demand. Airwallex Capital (Singapore) Executive Director, Gary Harvey noted that the product aims to simplify cash management and utilize idle funds for companies of all sizes. Airwallex Capital is collaborating with Fullerton Fund Management to manage its Singapore dollar investment strategy and Goldman Sachs Asset Management for its US dollar solution, leveraging institutional-grade expertise.

The launch of Airwallex Yield in Singapore follows successful rollouts in Australia and Hong Kong. This move reinforces Airwallex’s strategy to shape the future of global finance, empowering companies to grow on their own terms.