Australia-based FinTech platform Airwallex announced Thursday the launch of its cross-border payment services in Malaysia, following its grant of a money services business license by Malaysian regulator Bank Negara Malaysia in August last year.

Initially, qualified Malaysian businesses will be given access to Airwallex’s fast, transparent and cost-effective foreign exchange conversions and payouts in more than 130 countries, empowering them to grow and operate globally, Airwallex said in a statement.

It said it will continuously extend availability of its product offerings to more businesses over the next few months.

Friday’s announcement marks Airwallex’s ongoing commitment and successive step forward in its Southeast Asia expansion.

Earlier this year, Airwallex announced it was open for business in Singapore shortly after receiving a Major Payment Institution License by the Monetary Authority of Singapore.

Airwallex is a global payments platform with a mission to empower businesses of all sizes to grow without borders. With technology at its core, it has built a financial infrastructure and platform to help businesses manage online payments, treasury and payout globally, without the constraints of the traditional financial system.

The firm was founded in Melbourne in 2015, and in just six years, it has secured more than US$800 million in funding and a valuation of $5.5 billion. The Airwallex group currently serves tens of thousands of customers across all the markets it operates in, including leading global brands such as Qantas, Papaya Global and Plum.

The company has a team of over 1,000 employees across 19 locations globally.

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