Latest news with #ArnoldChan
Barnama
2 days ago
- Business
- Barnama
Airwallex Secures CMS Licence, Launches Investment Product For Singapore Businesses
BUSINESS KUALA LUMPUR, July 29 (Bernama) -- Airwallex has clinched a Capital Markets Services (CMS) licence from the Monetary Authority of Singapore (MAS), paving the way for its latest offering, Airwallex Yield, to launch in the city-state. With this licence, fintech firms can now offer regulated investment solutions and custodial services to businesses in Singapore through its Airwallex Yield product. Airwallex General Manager, Asia Pacific, Arnold Chan said this milestone lets us help Singapore businesses better manage cash and seize growth opportunities. "This is a proud moment for us, and we are grateful to the MAS for their support and trust in our vision," he said in a statement. The Airwallex Yield allows businesses to invest surplus funds in high-quality money market instruments, earning returns while maintaining full liquidity. Companies can now grow multi-currency reserves without opening additional accounts and shift funds between cash and Yield accounts on demand. Meanwhile, Airwallex Capital (Singapore) Executive Director, Gary Harvey said the product aims to simplify cash management and put idle funds to work for companies of all sizes. Airwallex Capital is teaming up with Fullerton Fund Management to manage its Singapore dollar investment strategy and Goldman Sachs Asset Management for its US dollar solution, tapping institutional-grade expertise. 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.
Finextra
3 days ago
- Business
- Finextra
Airwallex launches Yield product in Singapore
Airwallex, a leading global fintech platform, today announced that its Singapore entity, Airwallex Capital (Singapore) Pte Ltd, has been granted a Capital Markets Services (CMS) licence by the Monetary Authority of Singapore (MAS). With this licence, Airwallex can now offer regulated investment solutions and custodial services to businesses in Singapore through its Airwallex Yield product. 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.
Business Wire
3 days ago
- Business
- Business Wire
Airwallex Launches Yield in Singapore, Unlocking Smarter Returns After MAS Licence Approval
SINGAPORE--(BUSINESS WIRE)--Airwallex, a leading global fintech platform, today announced that its Singapore entity, Airwallex Capital (Singapore) Pte Ltd, has been granted a Capital Markets Services (CMS) licence by the Monetary Authority of Singapore (MAS). With this licence, Airwallex can now offer regulated investment solutions and custodial services to businesses in Singapore through its Airwallex Yield product. Airwallex Yield is an investment fund management service that allows businesses to earn competitive returns on surplus funds held within their business 1. 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 billion 2 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. To learn more about Airwallex Yield in Singapore, visit: END About Airwallex Airwallex is a leading financial platform building the future of global banking for modern businesses. By combining proprietary infrastructure with software and AI, Airwallex is reimagining how businesses manage accounts, access capital, control spend, and embed financial services. Designed to replace fragmented, legacy systems, Airwallex offers a unified platform for global financial operations – providing everything from multi-currency business accounts to payments to spend management and embedded financial products. Founded in Melbourne and trusted by over 150,000 businesses worldwide – including TikTok, Rippling, Navan, Qantas, and SHEIN – Airwallex is powering a new era of global banking without borders. Learn more at About Fullerton Fund Management Fullerton Fund Management Company Ltd ('Fullerton') is an active investment specialist, focused on optimising investment outcomes and enhancing investor experience. We help clients, including government entities, sovereign wealth funds, pension plans, insurance companies, private wealth and retail, from the region and beyond, to achieve their investment objectives through our suite of solutions. Our expertise encompasses equities, fixed income, multi-asset, alternatives and treasury management, across public and private markets. As an active manager, we place strong emphasis on performance, risk management and investment insights. Incorporated in 2003, Fullerton is headquartered in Singapore, and has associated offices in Shanghai, Jakarta and Brunei. Fullerton is part of Seviora, an independent asset management group, owned by Temasek. Income Insurance, a leading Singapore insurer, is a minority shareholder of Fullerton. About Goldman Sachs Asset Management Goldman Sachs Asset Management is the primary investing area within Goldman Sachs (NYSE: GS), delivering investment and advisory services across public and private markets for the world's leading institutions, financial advisors and individuals. The business is driven by a focus on partnership and shared success with its clients, seeking to deliver long-term investment performance drawing on its global network and deep expertise across industries and markets. Goldman Sachs Asset Management is a leading investor across fixed income, liquidity, equity, alternatives, and multi-asset solutions. Goldman Sachs oversees $3.2 trillion in assets under supervision as of March 31, 2025. Follow us on LinkedIn.
Straits Times
4 days ago
- Business
- Straits Times
Airwallex launches investment product to help businesses grow idle cash
Find out what's new on ST website and app. The new Airwallex Yield product is aimed at small business customers or customers on Airwallex. SINGAPORE - Fintech firm Airwallex has unveiled a new investment product aimed at helping businesses earn returns on unused funds, entering a competitive market where rivals also court companies seeking better yields on spare cash. Rolled out on July 28, the product invests in money market funds (MMFs) and offers returns of up to 1.29 per cent per annum for Singapore-dollar funds and up to 3.84 per cent for US-dollar funds. The new Airwallex Yield product is aimed at small business customers or customers on Airwallex, said Mr Arnold Chan, Airwallex's general manager for Asia-Pacific excluding China. 'Airwallex Yield will allow businesses to earn returns on their surplus Singapore-dollar and US-dollar funds by investing through investment-grade money market funds, while maintaining access to both liquidity and control over their cash,' he told The Straits Times. A MMF invests in a range of liquid, low-risk assets, which typically include cash and short-term instruments such as treasury bills, commercial paper, and certificates of deposit. Airwallex's yield product invests in several Goldman Sachs and Fullerton funds. The Singapore launch follows earlier rollouts in Australia and Hong Kong. Since its November 2023 debut in Australia, the product has attracted about US$200 million (S$256 million) in funds. Airwallex offers a suite of financial products for businesses, including global business accounts, cross-border payments and expense management tools. The firm said it is seeing a huge demand from customers in Singapore who want to earn returns while maintaining flexibility to move funds quickly. Over 80 per cent of its annual revenue comes from customers who use more than one Airwallex service and the firm expects to cross-sell the new product to its existing customers. The firm also plans to target technology companies, especially those backed by venture capital and holding substantial idle cash reserves, as well as e-commerce players and retailers that receive customer payments upfront but pay suppliers later. By investing these interim funds, they can generate additional returns. Trading businesses involved in importing and exporting can also benefit by putting their idle cash or working capital to work, said Mr Chan. He added that withdrawals are flexible and settlement is typically completed within one business day, provided that cut-off times were met. Airwallex joins a competitive field in Singapore, where firms like StashAway and Syfe already offer MMF products to businesses seeking returns on idle cash with flexible access. Most MMFs in Singapore invest in fixed deposits, government securities and commercial papers. Airwallex customer GlobalTix, a ticketing software and distribution platform for the tourism sector, said that it considers flexibility, liquidity, tenure and yield as key factors when deciding how to deploy idle cash. GlobalTix's co-founder and chief operating officer Chan Chee Kong said fixed deposits are less suitable for the company because they tie up funds for a set period – limiting access when quick payments to suppliers or vendors are needed. 'I need to have that flexibility around moving my funds in and out,' he said. Another key consideration is managing different currencies given the global nature of the firm's business, he added. He noted that Airwallex is not the first to offer the solution, adding that GlobalTix currently uses a similar offering from a competitor. However, if GlobalTix were to use Airwallex's new offering, it would benefit from having all its financial tools on a single platform – making it easier to monitor and manage its cash flow, he said. Lovet, a homegrown fashion brand and Airwallex customer, is considering the new yield product, its director Lee Wei Leong said. With interest rates declining, he said the company is exploring options. 'If we leave our money in a normal savings account, the value of the money is going to be eroded by inflation.' As an SME without venture capital backing, liquidity is key. If Lovet were to open a new outlet, it will need to be able to cash out quickly to fund the expansion, he added.
Finextra
18-06-2025
- Business
- Finextra
Airwallex receives asset management licence in Hong Kong
Airwallex, a leading global financial platform for modern businesses, today announced the highly anticipated full launch of Airwallex Yield in Hong Kong. 0 As the first global payments group to receive a licence from the Securities and Futures Commission of Hong Kong (SFC) to provide asset management services, Airwallex is empowering businesses to earn competitive returns up to 3.97%1 on their multi-currency balances - with no minimum lock-up period required. 'We're excited to announce the full launch of Airwallex Yield to businesses in Hong Kong,' said Arnold Chan, General Manager, Asia-Pacific, Airwallex. 'We've seen growing demand from businesses looking for more effective ways to maximise the value of their capital. In today's dynamic market environment, businesses are actively seeking ways to make their capital work harder. Airwallex Yield gives them a seamless and flexible way to earn returns on their balances, all from within the Airwallex platform. We're not just looking to help businesses make the most of their surplus balances - we also want to encourage them to bring new funds to Airwallex because of the value Yield provides.' By integrating Yield into the Airwallex platform, businesses can now streamline their financial operations by managing their working capital and surplus funds in one place. This strengthens Airwallex's end-to-end business account value proposition - from payments and treasury to investment - enabling companies to operate more efficiently while earning returns on idle funds. Airwallex Yield, a low risk-rated discretionary portfolio management service, aims to generate returns from exposure to highly-rated money market instruments provided by some of the world's leading investment firms. In Hong Kong, Airwallex has initially partnered with J.P. Morgan Asset Management, leveraging their expertise in managing investments in money market instruments. 'We have been supporting Airwallex in Australia since 2023 and we are delighted to expand that to Hong Kong. This will extend our multi-currency liquidity management capability to Airwallex's innovative platform, enhancing their financial capabilities,' said Kheng Leong Cheah, Head of Global Liquidity Sales, Asia Pacific, J.P. Morgan Asset Management. Key benefits of Airwallex Yield include: Opportunity to generate returns from leading money market instruments: Yield's strategy is to focus on high quality, short-duration investments. Earn on multiple currencies: Grow your multi-currency balances without the need to open multiple bank accounts. No lock-up periods: Businesses can move funds between their cash balance and Yield account anytime to meet their needs. This flexibility means businesses can consolidate more of their working capital within Airwallex and benefit from the ease of accessing high-liquidity returns directly from their business account. Airwallex Yield has been in beta for the past few months, offered to select Hong Kong businesses to optimise the experience ahead of this broader rollout. It currently has over US$85 million2 in funds under management. With today's full launch, all eligible Hong Kong businesses can now sign up for an Airwallex Yield account. Airwallex Yield is offered through Airwallex Capital Hong Kong Limited, which is licensed by the SFC (CE Number: BUL570) to carry out regulated activities including asset management. The launch builds on Airwallex's commitment to expanding its financial services offerings across the region. Businesses interested in signing up can visit to learn more. 1 3.97% is for USD as on 16 June 2025 2 As of 17 June 2025
