M-DAQ Global’s Wallex Empowers Malaysian Businesses for Cross-Border Success

M-DAQ Global’s Wallex Empowers Malaysian Businesses with Wallex Payments Solution for Cross-border Growth

• Businesses in Malaysia will benefit from seamless and cost-effective cross-border transactions with the local launch of M-DAQ Global’s Wallex business solution.

• With over 40,000 clients and a deep expertise in ASEAN currency corridors, Wallex is a comprehensive solution that simplifies cross-border payments and foreign exchange (FX) conversion.

• Businesses in Malaysia from SMEs to large corporates, can manage FX risk to their cash flow schedules, and pay suppliers across borders to adopt regional opportunities easily and quickly.

[12 September 2024, Singapore] – M-DAQ Global Pte. Ltd. (“M-DAQ Global”), a Singapore-headquartered fintech group specialising in cross-border foreign exchange (FX) and payments solutions, announced today the launch of its Wallex solution for businesses in Malaysia. This development follows the establishment of MDAQ Malaysia Sdn. Bhd., with the recent acquisition of Malaysia-licensed B2B payments service provider Easy Pay Transfers Sdn. Bhd..

With over 40,000 clients and deep expertise in ASEAN currency corridors, Wallex is designed as a comprehensive solution to simplify cross-border payments and FX conversion, tailored to meet the diverse needs of businesses operating internationally. Wallex empowers Malaysian companies from SMEs to large corporates to address the inherent challenges in cross-border transactions, including high costs, complex compliance requirements, and exposure to fluctuating FX rates.

Wallex's platform enables Malaysian companies streamline their cross-border transactions, mitigate costs, manage FX risks effectively, while ensuring secure and compliant payments.  

"With Wallex now available in Malaysia, we’re expanding our capabilities across regional currency corridors to directly benefit local businesses. Our platform will help Malaysian companies simplify cross-border transactions with greater speed, support, and savings," said Hiro Kiga, General Manager of Payments and Co-founder of Wallex at M-DAQ Global, "Having a local presence allows us to tailor our solutions to the specific needs of Malaysian businesses, supporting their growth and success in the global market.”

"M-DAQ Global is excited to introduce Wallex to the Malaysian market as part of our commitment to driving business success in a globalised market," said Reynels Lee, Head of Malaysia at M-DAQ Global who oversees the business of MDAQ Malaysia Sdn. Bhd., "This launch strengthens our regional presence with a local office to empower Malaysian businesses with a robust solution to tackle international payment challenges and fuel global growth.”

Following Wallex’s full integration into M-DAQ Global since the acquisition, it continues to strengthen M-DAQ Global’s vision of a world without currency borders through expanding its suite of FX and payment solutions locally. With a growing presence in 7 countries and territories, M-DAQ Global is committed to supporting global clients in seamless cross-border transactions with FX certainty and clarity. 

For more information on Wallex and how it can benefit your business, please visit: https://www.wallex.asia/en-my.  

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About M-DAQ Global

M-DAQ Global is a leading financial technology group specialising in foreign exchange (FX) and payment solutions to facilitate seamless cross-border transactions. Our proprietary technology empowers enterprises and SMEs with FX clarity, certainty, and payment mobility. Founded and headquartered in Singapore, M-DAQ Global operates across 7 countries and territories today, serving a diverse B2B clientele across 45 markets. 

Our offerings range from customised to advanced FX solutions via UI and API integrations. With our proprietary FX engine, we provide technology-driven solutions for cross-border trading ecosystems. Leveraging a robust network across Asia, M-DAQ Global enables businesses to seamlessly manage cross-border collections and payments, while offering value-added services such as AI-driven KYB onboarding and advanced risk management.

For more information, please visit: www.m-daq.com.

About Wallex

Founded in 2016, Wallex is the leading FX and payments specialist for companies transacting in Asia, empowering businesses to operate overseas confidently — with powerful cross-border solutions that deliver greater speed, support, and savings.  Customers are taking back control of their FX and payments processes through Wallex’s robust and secure online platform – converting and paying in 47 currencies, collecting payments in 35 currencies via virtual, and holding funds in a wallet through the Wallex Global Business Account.   

Acquired by M-DAQ Global in 2022, Wallex is a business unit of its group of companies which is licensed in Singapore, Indonesia and Hong Kong, with a presence across Asia-Pacific. For more information, please visit www.wallex.asia.