Singapore Fintech M-DAQ Launches Wallex Payment Solution in Malaysia

Singapore-based Fintech group M-DAQ Global Pte. Ltd. has launched its Wallex cross-border foreign exchange (FX) and payment solution in Malaysia, following its acquisition of B2B payments service provider Easy Pay Transfers Sdn. Bhd.

The launch of Wallex marks the expansion of M-DAQ’s footprint in the region through its newly established MDAQ Malaysia Sdn. Bhd. subsidiary, aimed at addressing the cross-border transaction challenges faced by Malaysian businesses.

Cross-border payments for businesses in Malaysia have often been hindered by high costs, complex compliance requirements, and the volatility of FX rates.

The Wallex platform, which has already served over 40,000 clients, offers a streamlined solution that simplifies these transactions and mitigates risks.

The platform’s design caters to a wide range of businesses, from small- and medium-sized enterprises (SMEs) to large corporations, providing services such as cost-effective payment processing, secure transactions, and FX risk management.

With its local presence in Malaysia, M-DAQ Global seeks to empower businesses to overcome the challenges of international trade by offering a robust platform that simplifies payment processes, reduces costs, and enhances FX certainty.

The launch is part of M-DAQ’s broader strategy to expand its regional influence across the ASEAN currency corridors, reinforcing its commitment to providing tailored solutions for businesses operating globally.

According to Reynels Lee, Head of Malaysia at M-DAQ Global, the Wallex solution is positioned to support Malaysian businesses in their global growth by providing a reliable and efficient system for managing cross-border transactions.

Hiro Kiga, General Manager of Payments and Co-founder of Wallex, emphasized the importance of having a local presence to better serve the specific needs of Malaysian businesses.

Since its founding in 2016, Wallex has become a leading FX and payment specialist for companies transacting in Asia.

Acquired by M-DAQ in 2022, it operates as part of M-DAQ’s group of companies, providing services across 47 currencies and enabling businesses to hold and transfer funds through the Wallex Global Business Account.

M-DAQ Global’s expanding presence in seven countries underpins its mission to facilitate seamless cross-border transactions for clients worldwide.

This expansion into Malaysia further solidifies M-DAQ’s role in supporting businesses with reliable, secure, and cost-effective international payment solutions, helping companies navigate the complexities of global trade.



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