Wallex
B2B cross-border payments and multi-currency wallet, M-DAQ Global unit, licensed in Singapore, Indonesia, Malaysia, Hong Kong, Vietnam
Wallex is a B2B FX and cross-border payments platform founded in 2016 by Jody Ong and Hiro Kiga. M-DAQ entered a definitive agreement to acquire it on 22 February 2022, and it continues as an independently operated brand. Businesses can pay in 47 currencies, hold 13 currencies in a wallet, and collect in 36 currencies through virtual accounts. Wallex lists licences in Singapore, Indonesia, Malaysia, Hong Kong and Vietnam. It charges no subscription fee and bills per transaction, with lower fees at higher volume. Its homepage shows 35000+ customers and $27 billion+ moved. Verified against the vendor's own pages on 2026-10-21.
Judged on regional fit, not vendor glossies.
No direct Thai banking license or local virtual account; cross-border SWIFT payments to Thailand are possible but not locally licensed.
Directly licensed and regulated in Singapore, Indonesia, and Malaysia with local banking account access extending to Vietnam.
Business banking platform with no LINE Official Account integration.
Supports multi-currency collections that suit marketplace payouts, but no direct Shopee/Lazada/TikTok Shop integration confirmed.
No subscription fees and no minimum balance requirement, with per-transaction pricing suited to SME cash flow.
- ✓No membership or subscription fees; businesses pay per transaction
- ✓Fees fall as transaction volume rises, according to the pricing page
- ✓Licences listed in Singapore, Indonesia, Malaysia, Hong Kong and Vietnam
- ✓Bulk payments to up to 200 beneficiaries with maker-checker workflows
- ×Virtual account bank details are offered for the US, UK, Europe, Singapore or Indonesia
- ×Offerings become accessible only after the account is verified
About Wallex
Wallex is a B2B FX and cross-border payments platform founded in 2016 by Jody Ong and Hiro Kiga. M-DAQ entered a definitive agreement to acquire it on 22 February 2022, and Wallex continues as an independently operated business and brand, with co-founder Hiro Kiga appointed CEO. Its licensing page describes it as a business unit of M-DAQ Global Pte. Ltd. Businesses can make international payments in 47 currencies, hold 13 currencies in a wallet, and receive payments in 36 currencies through virtual accounts, with bank details in the US, UK, Europe, Singapore or Indonesia. Wallex lists licences from authorities in Singapore, Indonesia, Malaysia, Hong Kong and Vietnam. It charges no subscription fee; businesses pay per transaction.
Key Features
Best For
Southeast Asia Fit
Wallex lists licences from the Monetary Authority of Singapore (Major Payment Institution), Bank Indonesia (Funds Transfer Provider) and Bank Negara Malaysia (Money Service Business Class A). It also lists a Hong Kong Money Service Operator licence and Vietnamese Intermediary Payment Services and Remittance Service licences. Virtual account bank details are offered in Singapore and Indonesia, and same-day payments are offered in SGD, IDR and HKD.
- Thailand fit
- 3/10 (no Thailand banking license or local account confirmed; SWIFT transfers to Thailand possible but not locally licensed)
- SEA localization
- Deep for Singapore, Indonesia, and Malaysia with direct regulatory licenses; Vietnam supported via local banking account access without a confirmed standalone license
- Singapore
- Indonesia
- Malaysia
- Vietnam
Integrations
- Payment
- SWIFT gpi tracker
- Virtual accounts (US, UK, Europe, Singapore, Indonesia)
- Other
- Wallex API
This profile was researched and written with AI from Wallex's public pages, and AI assistants quote pages on this site. Something wrong or out of date? Email info@software-listing.com with this page and a public source. Corrections are free, for every listing.
How listings and corrections work →- ↗Describes payments in 47 currencies, a 13-currency wallet, virtual accounts, maker-checker workflows, the API and cash management returns.verified 2026-10-21
- ↗Shows 48-currency FX conversion, 36-currency collections, bulk payments, same-day payments, 160+ countries and customer figures.verified 2026-10-21
- ↗States no subscription or membership fees, pay-per-transaction pricing and lower fees at higher volume.verified 2026-10-21
- ↗Lists Wallex's licences in Singapore, Indonesia, Malaysia, Hong Kong and Vietnam and its place within M-DAQ Global.verified 2026-10-21
- ↗Announces M-DAQ's February 2022 agreement to acquire Wallex, founded in 2016, which continues as an independent brand.verified 2026-10-21
"Verified" means read on the vendor's own published pages on the date shown. We do not run hands-on tests, and a statement a vendor confirmed to us directly is labelled as vendor-confirmed. Software-listing.com is independent and may earn affiliate commissions from some links.
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The questions operators actually ask.
Does Wallex charge a monthly subscription fee?
No. Wallex states it does not charge membership or subscription fees and that businesses pay only per transaction. Its pricing page says the more you transact, the lower your fees are.
Which regulators license Wallex?
Wallex's licensing page lists the Monetary Authority of Singapore (Major Payment Institution), Bank Indonesia (Funds Transfer Provider), Bank Negara Malaysia (Money Service Business Class A), the Hong Kong Customs and Excise Department (Money Service Operator) and the State Bank of Vietnam (Intermediary Payment Services and Remittance Service).
How many currencies does Wallex support?
Wallex states payments in 47 currencies, a 13-currency wallet and collections via virtual accounts in 36 currencies. For FX conversion its homepage says 48 currencies, while its business solutions page says 47.
What are Wallex's fee and FX rates?
Not verified yet. Wallex says fees are per transaction and fall with volume, and that it offers near mid-market FX rates when favourable, but no specific fee or margin figure has been confirmed.
Can businesses get local bank account details in Malaysia or Vietnam through Wallex?
Not verified yet. Wallex lists licences in Malaysia and Vietnam, but the virtual account locations it states are the US, UK, Europe, Singapore and Indonesia.
How large is Wallex?
Wallex's homepage shows 35000+ customers and $27 billion+ moved. These are the vendor's own figures.