KUALA LUMPUR: Airwallex said on Wednesday it has received approval from Malaysia's central bank for licences to carry out e-money issuance, currency exchange and remittance services, allowing it to offer a full suite of payment services in the country.
The Australian-founded payments firm said the licences would strengthen its position in providing a comprehensive financial infrastructure that can support multi-currency accounts, foreign exchange, and complex business use cases on a single platform.
"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," Airwallex Asia-Pacific General Manager Arnold Chan said in a statement.
The company plans to double its headcount in Malaysia this year, after recently expanding into a new office space with capacity for over 160 employees, it said.
The expansion reflects strong business momentum in the market, with over RM2bil in remittance transactions processed last year, driven by rising demand from Malaysian businesses operating across borders, Airwallex said. - Reuters
