Fintech company Airwallex secures MiFID license, allowing for the launch of Yield in the Netherlands, empowering European businesses to yield returns on otherwise idle funds.
Airwallex, a global financial platform, has announced the imminent launch of Airwallex Yield in the Netherlands. This service allows European businesses to generate returns on idle funds, offering a smarter way to make their money work harder.
The launch of Airwallex Yield in the Netherlands underscores Airwallex's commitment to compliance and robust financial practices. The company has recently received its MiFID license from the Dutch Authority for the Financial Markets (AFM), a significant milestone that enables Airwallex to provide businesses an opportunity to generate returns that is not typically available through traditional banks.
What is Airwallex Yield?
Airwallex Yield is a financial platform designed to help businesses generate returns on idle funds by offering Money Market Funds (MMFs). The key features and benefits of this platform include:
Key Features
- Seamless Integration: Airwallex Yield provides a smooth and intuitive investment experience that is fully integrated into the Airwallex platform, allowing businesses to manage their funds effortlessly.
- No Lock-up Periods: Businesses have the flexibility to transfer funds between their cash balance and Yield account at any time, ensuring they can meet their growth needs without restrictions.
- Multi-Currency Flexibility: Supports managing and generating returns on balances held in EUR, GBP, and USD within the Airwallex account, eliminating the need for multiple bank accounts.
Key Benefits
- Competitive Returns: Offers competitive returns, often more than double what traditional banks provide, while maintaining full flexibility to access cash whenever needed.
- Risk Management: By providing a way to earn returns on idle funds, businesses can better manage their capital in today's economic environment with confidence and agility.
- Convenience and Accessibility: Allows small to medium-sized businesses access to a new way of generating returns on idle cash, which is typically not available through traditional banking services.
A Successful Rollout
Airwallex has successfully rolled out Yield in Australia, Hong Kong, and Singapore. The growth in the Netherlands was driven by a tripling of active customer accounts, key product launches, and significant senior hires. The company recently announced remarkable growth in the Netherlands, with a 199% YoY revenue increase.
Laurens Maartens, the Executive Director of Yield at Airwallex, and Shannon Scott, SVP and Global Head of Product at Airwallex, stated that the MiFID license is the first step to launching Yield in the Netherlands. They emphasized that the launch of Yield in the Netherlands follows Airwallex's commitment to expanding innovative financial solutions globally.
Scott also mentioned that Yield is about helping businesses unlock greater value from their capital while navigating today's economic environment with confidence and agility. Companies can find out more about Yield and sign up for the waitlist on Airwallex's website.
[1] For specific details about the benefits and returns offered by Airwallex Yield, please visit the Airwallex website.
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