Airwallex, a global fintech platform, has launched Airwallex Yield in Singapore, an investment fund management service designed to help businesses earn competitive returns on surplus funds. This development follows the approval of a Capital Markets Services (CMS) licence by the Monetary Authority of Singapore (MAS), allowing Airwallex to offer regulated investment solutions and custodial services through its Singapore entity, Airwallex Capital Singapore Pte Ltd.
Airwallex Yield enables businesses to maximise returns on their multi-currency funds by investing in highly rated money market funds, grow foreign currency balances without opening additional accounts, and maintain liquidity with no lock-up periods. The service allows businesses to move funds between cash balances and Yield accounts as needed. Fullerton Fund Management and Goldman Sachs Asset Management will manage the Singapore Dollar (SGD) and US Dollar (USD) solutions, respectively.
Arnold Chan, General Manager for Asia Pacific at Airwallex, expressed enthusiasm about the launch, stating, “Launching Airwallex Yield in Singapore is a significant milestone as we continue to innovate and empower businesses here to unlock new opportunities to thrive.”
Gary Harvey, Executive Director of Airwallex Capital Singapore, highlighted the importance of cash management, saying, “With Airwallex Yield, we are giving businesses a simple and flexible way to grow their idle funds.”
The launch in Singapore follows successful rollouts in Australia and Hong Kong, reinforcing Airwallex’s strategy to empower companies to grow faster and smarter.
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