Fintech company Airwallex secures MiFID license, enabling the launch of Yield in the Netherlands, allowing European businesses to earn income on otherwise idle capital.
Airwallex Unveils Airwallex Yield: A Revolutionary Financial Product for European Businesses
Airwallex, a leading global financial platform for businesses, is set to launch Airwallex Yield, a new financial product designed to help European businesses generate returns on their idle funds. This innovative offering will enable businesses to earn competitive returns, often more than double traditional banks, while maintaining full flexibility to access their cash whenever needed [1].
The product's key features include:
- MiFID Licensing: Airwallex has secured the Markets in Financial Instruments Directive (MiFID) license from the Dutch Authority for the Financial Markets (AFM), allowing it to offer Money Market Funds (MMFs) in Europe [1].
- Competitive Returns: With Airwallex Yield, businesses can expect returns that are typically more than double those available through traditional bank accounts [1].
- Full Liquidity: Businesses can transfer funds between their operational cash balances and their Yield account seamlessly and anytime they need liquidity, ensuring operational agility without sacrificing returns [1].
- Multi-Currency Support: Yield supports multiple currencies—EUR, GBP, and USD—allowing companies to earn returns on balances in these currencies directly within their existing Airwallex accounts, eliminating the need to open separate bank accounts [1].
- Seamless Integration: Yield is integrated into the Airwallex platform, offering a smooth and intuitive investment experience for effortless management of idle funds alongside regular treasury operations [1].
By utilizing Airwallex Yield, European businesses can optimize their capital use by turning idle cash into interest-earning assets with daily liquidity, providing a smart alternative to traditional bank deposits that often yield lower returns and less flexibility [1].
Airwallex's commitment to expanding innovative financial solutions globally is evident, as Yield has already been successfully rolled out in Australia, Hong Kong, and Singapore. The imminent launch in the Netherlands follows Airwallex's remarkable growth in the region, with a 199% YoY revenue increase and a tripling of active customer accounts [2].
Laurens Maartens, Executive Director Yield at Airwallex, commented on obtaining the MiFID license from the AFM, stating it underscores their commitment to compliance and robust financial practices [3].
Businesses interested in Airwallex Yield can find out more and sign up for the waitlist on Airwallex's website: https://www.airwallex.com/eu/business-account/yield [4].
In addition to the Yield launch, Airwallex recently announced significant senior hires across risk and regulatory compliance for its new office located in Silicon Canals [5]. These strategic moves demonstrate Airwallex's dedication to providing European businesses with a smarter way to make their money work harder [6].
References: [1] Airwallex. (n.d.). Airwallex Yield. Retrieved from https://www.airwallex.com/eu/business-account/yield [2] Airwallex. (2022, March 16). Airwallex reports 199% YoY revenue growth and a tripling of active customer accounts in the Netherlands. Retrieved from https://www.airwallex.com/en-us/newsroom/2022/03/airwallex-reports-199-yoy-revenue-growth-and-a-tripling-of-active-customer-accounts-in-the-netherlands/ [3] Airwallex. (2022, April 12). Airwallex secures MiFID license from the Dutch Authority for the Financial Markets (AFM). Retrieved from https://www.airwallex.com/en-us/newsroom/2022/04/airwallex-secures-mifid-license-from-the-dutch-authority-for-the-financial-markets-afm/ [4] Airwallex. (n.d.). Airwallex Yield. Retrieved from https://www.airwallex.com/eu/business-account/yield [5] Airwallex. (2022, April 20). Airwallex strengthens European presence with key senior hires in risk and regulatory compliance. Retrieved from https://www.airwallex.com/en-us/newsroom/2022/04/airwallex-strengthens-european-presence-with-key-senior-hires-in-risk-and-regulatory-compliance/ [6] Shannon Scott, SVP and Global Head of Product at Airwallex, stated that Yield will offer a smarter way for businesses to make their money work harder.
- Airwallex's new product, Airwallex Yield, offers businesses the opportunity to invest in Money Market Funds (MMFs) in Europe, provided by the platform's MiFID licensing.
- The integration of Airwallex Yield technology on their platform allows European businesses to manage their idle funds and gain competitive returns, using a smarter approach to financing and minimizing reliance on traditional bank deposits.
