Wallex
Singapore-founded multi-currency business account licensed in Singapore, Indonesia, and Malaysia for SEA cross-border payments
Wallex is a Singapore-founded (2016), M-DAQ-owned multi-currency business account platform licensed in Singapore, Indonesia, and Malaysia, letting SEA businesses convert, collect, and hold funds across 47 currencies with local banking accounts in-region. It is best for SEA importers/exporters and cross-border SMEs, with no subscription fee and per-transaction FX pricing from 0.4% above interbank rates.
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 subscription or membership fees; pay only per transaction
- ✓Directly licensed in three SEA markets (Singapore, Indonesia, Malaysia) rather than operating cross-border only
- ✓Competitive FX rates from 0.4% above interbank for major currencies
- ✓Local banking accounts reduce the friction of holding funds in-region
- ×No confirmed direct license or local account offering in Thailand or the Philippines
- ×SWIFT transfer fees (S$20-35 per transfer) apply on top of FX spread for wire payments
- ×English-only interface with no localized language options for SEA markets
About Wallex
Wallex is a Singapore-founded B2B cross-border payments and multi-currency account platform, established in 2016 and acquired by M-DAQ in 2022. It lets businesses convert and pay in 47 currencies, collect via local virtual accounts, and hold funds in a wallet across 13 currencies, while operating with local banking accounts in markets including Indonesia, Malaysia, and Vietnam. Wallex is regulated as a Major Payment Institution by the Monetary Authority of Singapore, a Funds Transfer Provider under Bank Indonesia, and a Money Service Business under Bank Negara Malaysia, giving it licensed operating status across three Southeast Asian jurisdictions.
Key Features
Best For
Southeast Asia Fit
Wallex is a Singapore-founded platform directly licensed and regulated in Singapore, Indonesia, and Malaysia, letting SEA businesses hold local banking accounts and collect payments in-region rather than routing everything through a single-country entity. Its no-subscription, per-transaction pricing and same-day SGD/IDR processing target the cash-flow needs of SEA SMEs and trading businesses more directly than global multi-currency platforms built primarily around US, UK, and EU corridors.
- 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
- Local virtual accounts (Indonesia, Malaysia)
- ↗Wallex offers a business account supporting multi-currency needs for Asian SMEs, with international payments in 47 currenciesverified 2026-08-24
- ↗Wallex is licensed and regulated by the Monetary Authority of Singapore, Bank Indonesia, Bank Negara Malaysia, and Hong Kong Customs and Exciseverified 2026-08-24
- ↗Wallex officially launched in Indonesia with a Money Transfer License from Bank Indonesia and a Remittance License from the Monetary Authority of Singaporeverified 2026-08-24
- ↗M-DAQ acquired Wallex to expand its cross-border payments ecosystemverified 2026-08-24
- ↗Wallex Official Website
- ↗Wallex Pricing Plans
- ↗SEA Operational Audit 2026
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Related Analysis & Guides
The questions operators actually ask.
Does Wallex charge a monthly subscription fee?
No, Wallex does not charge membership or subscription fees; businesses pay per transaction and on FX conversion spreads.
Which Southeast Asian countries is Wallex licensed in?
Wallex is regulated by the Monetary Authority of Singapore, Bank Indonesia, and Bank Negara Malaysia, and also supports local banking accounts in Vietnam.
How many currencies does Wallex support?
Wallex supports payments in 47 currencies, collections in 35 currencies, and holding balances across 13 currencies in a multi-currency wallet.