Airwallex launches Yield product in Singapore
0
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
Airwallex Yield is an investment fund management service that allows businesses to earn competitive returns on surplus funds held within their business1.
Through Airwallex Yield, businesses can:
Maximise returns on their multi-currency funds by investing in highly rated money market funds.
Grow their foreign currency balances without opening additional accounts.
Maintain liquidity, with no lock-up periods. Businesses can move funds between cash balances and Yield accounts as needed to meet their growth needs.
Airwallex Capital is collaborating with Fullerton Fund Management to manage its Singapore Dollar (SGD) investment strategy, and Goldman Sachs Asset Management for its US Dollar (USD) solution – both bringing deep institutional expertise to support customers' needs.
Celebrating the licence, 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."
'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,' said Gary Harvey, Executive Director, Airwallex Capital (Singapore). '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.'
Mark Yuen, Chief Business Development Officer, Fullerton Fund Management, said, 'Our partnership with Airwallex marks an exciting business channel for Fullerton, extending our institutional-grade investment expertise to a broader base of corporates in Singapore. In today's complex and high-cost environment, businesses should expect more from their surplus cash – access to stable, liquid SGD cash solutions that also work harder to generate yield. With over 15 years of Treasury Management experience and SGD13 billion2 under management, Fullerton is well-positioned to support Airwallex Yield in delivering smarter cash solutions to meet evolving corporate needs.'
'An evolving market environment calls for effective liquidity management strategies. As one of the leading liquidity solutions providers in the world, we look forward to working with Airwallex in Singapore to help companies optimise returns on their cash balances while maintaining liquidity to meet business needs,' said Mike Siegel, Global Head of Liquidity Solutions and Co-head of the Client Solutions Group in Asia Pacific, Goldman Sachs Asset Management.
The launch of Airwallex Yield in Singapore follows successful rollouts in Australia and Hong Kong, reinforcing Airwallex's strategy to shape the future of global finance, empowering companies to grow faster, smarter, and on their own terms.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
20 minutes ago
- Reuters
China factory activity shrinks for fourth month in July, PMI shows
BEIJING, July 31 (Reuters) - China's manufacturing activity shrank for a fourth month in July, an official survey showed on Thursday, suggesting that a surge in exports ahead of higher U.S. tariffs has started to fade while domestic demand remains sluggish. The official purchasing managers' index (PMI) dropped to 49.3 in July versus 49.7 in June, below the 50-mark separating growth from contraction, and missed a median forecast of 49.7 in a Reuters poll. The reading was the lowest since April.
Reuters
20 minutes ago
- Reuters
South Korean auto shares dip after Korea-U.S. trade deal
Seoul, July 31 (Reuters) - Shares of South Korean automakers Hyundai Motor ( opens new tab and Kia Corp ( opens new tab fell on Thursday after U.S. President Donald Trump said the U.S. will charge a 15% tariff on imports from South Korea, including autos, as part of a trade deal. Hyundai Motor shares were down 2% and Kia Corp stock lost 3.3%. The deal reduces U.S. tariffs on South Korean autos from 25% to 15%, the same rate as Japanese car imports. Before Washington imposed 25% auto tariffs in April, there were zero tariffs on most South Korean auto imports under a bilateral trade deal, while there was a 2.5 percent tariff on Japanese auto imports. The deal removes the 2.5% advantage in tariffs South Korean automakers had enjoyed over Japanese rivals under the Korea-U.S. free trade deal, analysts said.
Reuters
20 minutes ago
- Reuters
Dollar eyes first monthly gain for the year as Fed in no hurry to ease rates
SINGAPORE, July 31 (Reuters) - The dollar flirted with a two-month peak on Thursday after Federal Reserve Chair Jerome Powell stuck to his patient approach on rates in a closely watched policy decision and offered little insight on when they could be lowered. The greenback was also on track for its first monthly gain for the year, bolstered by a hawkish Fed and U.S. economic resilience, with uncertainty over tariffs beginning to ease given recent trade deals struck by Washington. Against a basket of currencies, the dollar was last steady at 99.77 , not far from a two-month peak of 99.987 it hit in the previous session. The dollar index was set for a monthly gain of more than 3%. U.S. President Donald Trump's chaotic tariffs and fears of the dollar's demise earlier this year had undermined the currency and given it the worst start to the year since the floating exchange rate period. Those worries have since abated, giving the dollar new life. The latest push higher for the currency came on the back of the Fed's policy decision on Wednesday, after Powell reiterated it was still premature to ease rates. "We've seen the classic correlation still holding, in the sense that we've seen a hawkish Fed push up front-end yields and the U.S. dollar, equities have struggled, and the credibility of the Fed has also been probably reinforced by the view that the Fed chair is still in command," said Rodrigo Catril, senior currency strategist at National Australia Bank. "The dollar is not just consolidating, but it's actually getting a little bit of upward momentum ... The broader picture as well is that all these tariffs, there's at least an initial impression that the U.S. is the one that's got the upper hand." The euro was last 0.25% higher at $1.1433, having slid to a seven-week low in the previous session. It was on track to lose 3% for the month. Sterling languished near a 2-1/2-month low and last bought at $1.3248. It was similarly headed for a 3.5% monthly decline. Traders have scaled back expectations for Fed cuts this year following Powell's comments, now pricing in about 35 basis points of easing by December. Markets have also been faced with a blitz of tariff announcements ahead of an August 1 deadline for countries to secure trade deals or face steep levies. South Korea became one of the latest nations to reach an agreement with the U.S., after Trump on Wednesday said Washington will charge a 15% tariff on imports from the key Asian ally. The South Korean won strengthened on the news, rising 0.3% to 1,389.20 per dollar. Trump on Wednesday also slapped a 50% tariff on most Brazilian goods and said the United States is still negotiating with India on trade. Key for investors in Asia on Thursday will be the Bank of Japan's policy decision, where expectations are for the central bank to stand pat on rates. Focus will be on whether Governor Kazuo Ueda offers any hints of another rate hike this year, as the BOJ weighs lingering tariff-induced risks to growth and mounting inflationary pressure from higher food costs. The yen wobbled near a four-month low at 149.29 ahead of the decision, headed for a monthly loss of 3.5%. "In the near term, the balance of risk is gradually shifting toward a more hawkish path - especially if inflation expectations begin to firm or household demand improves meaningfully," said Howe Chung Wan, head of Asian fixed income at Principal Asset Management. "But for now, the central bank's stance remains one of seeking more flexibility, prioritising stability over any premature tightening." In other currencies, the Australian dollar edged up 0.13% to $0.6443 after sliding more than 1% on Wednesday. It was headed for a monthly drop of 2%. The New Zealand dollar rose 0.2% to $0.5906, having also lost more than 1% overnight. It was set to lose roughly 3% for the month.
