Global fintech Airwallex announced that it now enables businesses to receive and hold funds in Israeli Shekels (ILS) through its Global Accounts and multi-currency wallet.
The offering enables Israeli and global Airwallex customers to open accounts, facilitating transactions “in ILS via the Israeli payment network.”
Transfers can be made through MASAV (ACH) or Zahav (RTGS), providing businesses with flexibility and efficiency in “managing their global financial operations.”
With the introduction of ILS Global Accounts, businesses can now benefit from “local collection capabilities, real-time settlement for faster payments, and streamlined treasury management.”
Customers can access the service through Airwallex’s Business Account, Core API, or Embedded Finance solutions, “ensuring integration with existing financial workflows.”
In addition to ILS Global Accounts, Airwallex’s multi-currency wallets and cards can be used for transactions in any currency “supported by Visa, provided there’s sufficient balance in the user’s Airwallex wallet.”
Airwallex’s multi-currency cards, combined with Direct Billing, ensure that each customer’s Airwallex multi-currency Wallet is “debited directly in their preferred transaction currency, eliminating any hidden charges or conversion fees, making it simpler and more cost-efficient for companies to manage their spending and expenses.”
For instance, for all ILS transactions, the customer’s ILS wallet will be debited seamlessly, offering “convenience and transparency for IL companies.”
Or Liban, VP, Middle East at Airwallex said:
“Enabling businesses to receive and hold funds in Israeli Shekels through our Global Accounts is a significant step in simplifying cross-border financial operations. Israeli and international companies can now manage ILS transactions and their spend management more efficiently, thanks to Airwallex’s robust financial infrastructure, which ensures local collection and treasury with minimal friction.”
As covered, Airwallex is a financial platform for businesses, offering solutions to manage everything “from payments, treasury, and spend management to embedded finance.”
With their infrastructure, Airwallex claims that it takes the friction out of global payments and financial operations, empowering businesses of all sizes to unlock new opportunities and grow beyond borders.
Founded in Melbourne, Airwallex reportedly supports over “150,000 businesses globally and is trusted by brands such as Brex, Rippling, Navan, Qantas, SHEIN.”
As widely reported, Airwallex is planning to expand its operations by acquiring banking licenses in the UK and US, according to the Financial Times (April 7, 2025).
Founded in Australia a decade ago, Airwallex has grown into a global player, offering banking and multicurrency payment services to businesses.
CEO Jack Zhang highlighted the UK as a fintech-friendly market, citing its supportive regulator, the Financial Conduct Authority, and intends to apply for a banking license there.
In the US, however, the process is more complex due to multiple state regulators, prompting Airwallex to consider acquiring an existing bank to gain regulatory approval.
This move aims to enable the company to scale its lending offerings, an area it has been limited in due to its reliance on payment licenses.
With a valuation of $5.6 billion and $600 million in cash reserves, Airwallex is positioning itself to compete with global banks and fintech firms like Stripe.
The expansion reflects a broader trend of fintechs seeking to deepen their financial services footprint.