Regulatory approvals clear full Airwallex rollout in Malaysia

Airwallex is set for a fuller commercial push in Malaysia after receiving approval from Bank Negara Malaysia for its e-money issuing and Class A licences. The approvals allow the company to offer a broader range of payment services locally, extending its presence beyond its earlier licence coverage.

With the expanded regulatory clearance, Airwallex can provide Malaysian businesses with a more complete financial platform covering payments, multi-currency accounts, foreign exchange, and cross-border money movement. The company said this would also support international businesses operating in Malaysia through the same infrastructure.

Arnold Chan, General Manager, Asia-Pacific at Airwallex, said the approvals would allow the company to bring more of its financial stack into the market. “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. “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.”

Broader licence coverage expands local product scope

The new approvals build on Airwallex’s existing Class B Money Services Business licence and its Registered Merchant Acquirer status in Malaysia. Taken together, the regulatory approvals widen the company’s local operating scope and move it closer to a full-stack offering rather than access to selected products.

That broader scope matters because Airwallex is positioning itself as a unified platform for businesses managing payments and international operations. Instead of offering only part of the financial workflow, it can now support a wider mix of use cases through one regulated platform, including collections in multiple currencies, foreign exchange, and global payouts.

The company said this gives Malaysian businesses access to more complete financial infrastructure without relying on separate providers for each function. This move strengthens Airwallex’s standing as a regulated non-bank financial services provider in the market.

Malaysia expansion continues beyond licensing

The regulatory milestone comes alongside a wider build-out of Airwallex’s local presence. The company said its Malaysia team grew by 66% in 2025 and that it has moved into a new office with capacity for more than 160 employees. Airwallex Malaysia also plans to double its headcount through 2026.

That hiring push comes against a backdrop of growing transaction volume. Airwallex said it processed more than RM2 billion in remittance transaction volume in 2025, driven by demand from Malaysian businesses operating across borders. The figures point to stronger usage in a market where trade, cross-border commerce, and regional business activity remain important to growth.

Chan said the company sees its regulatory position as part of that wider growth story. “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.”

Cross-border demand remains central to the pitch

Airwallex is tying its Malaysia expansion to the country’s broader digital and cross-border economic activity. The company pointed to Malaysia’s digital economy target of contributing 30% of GDP by 2030, alongside continued e-commerce growth and the country’s position as a trade-intensive economy.

For Airwallex, that creates a practical case for a broader payments and financial operations platform. The company’s pitch is that businesses expanding across markets need systems that can handle money movement, currency management, and payouts at scale, and that Malaysia is large and active enough to justify deeper local investment.