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Airwallex has launched its investment product, Airwallex Yield, in Singapore following approval from the Monetary Authority of Singapore (MAS) for a Capital Markets Services (CMS) license.
The license allows the company to offer regulated investment solutions and custodial services through its local entity, Airwallex Capital (Singapore) Pte Ltd.
Airwallex Yield allows businesses in Singapore to earn competitive returns on surplus multi-currency funds by investing in money market funds.
The service maintains liquidity with no lock-up periods, enabling businesses to transfer funds in and out as needed, and to manage foreign currency balances without requiring additional accounts.
The Singapore Dollar strategy is managed in collaboration with Fullerton Fund Management, while Goldman Sachs Asset Management oversees the US Dollar solution.
Airwallex said these partnerships bring institutional expertise to support its business clients.
The product launch in Singapore follows earlier rollouts in Australia and Hong Kong.
The introduction of Yield is part of its broader plan to help businesses manage their finances more efficiently.
Arnold Chan
Arnold Chan, General Manager, Asia Pacific, Airwallex, said,
“Launching Airwallex Yield in Singapore is a significant milestone as we continue to innovate and empower businesses here to unlock new opportunities to thrive.
This is a proud moment for us, and we’re grateful to the MAS for their support and trust in our vision.”
Gary Harvey
“Cash management is a crucial aspect of any business. With Airwallex Yield, we are giving businesses a simple and flexible way to grow their idle funds, empowering companies of all sizes to establish a more effective treasury function.
We are delighted to be working alongside our trusted asset managers, Fullerton Fund Management and Goldman Sachs Asset Management, to deliver Airwallex Yield to businesses in Singapore.”
said Gary Harvey, Executive Director, Airwallex Capital (Singapore).
Airwallex noted that Yield is an investment solution and not a savings or deposit product, and that investments carry risks including potential loss of principal.
Featured image: Edited by Fintech News Singapore, based on image by digitizesc via Freepik
