Airwallex revealed last week that it has secured a Markets in Financial Instruments Directive (MiFID) licence from the Dutch Authority for the Financial Markets (AFM), paving the way for the launch of its Yield product in the Netherlands.
Airwallex Obtains MiFID Licence to Launch Yield Products in the Netherlands
The global financial platform said the new licence will enable it to offer Money Market Funds (MMFs) to European businesses, providing small and medium-sized enterprises with access to investment opportunities not typically available through traditional banks.
Yield will allow companies to generate returns on idle cash balances in multiple currencies, including euros, pounds and U.S. dollars, while retaining full access to their funds.
They added that businesses will be able to move money between cash and Yield accounts at any time, without lock-up periods or term deposit restrictions.
Shannon Scott, SVP and Global Head of Product at Airwallex, said: “Receiving our MiFID licence is the first step to launching Yield in the Netherlands and will get us one step closer to providing European businesses with a smarter way to make their money work harder.”
The move follows strong momentum for Airwallex in the Netherlands, where the company reported 199% year-on-year growth, supported by rising customer numbers, new product launches and senior hires.
Laurens Maartens, Executive Director Yield at Airwallex, said: “Obtaining our MiFID licence from the AFM is a testament to our dedicated efforts and close collaboration with the Dutch regulators.”
Airwallex said Yield would provide businesses with competitive returns, in some cases more than double those offered by traditional banks, alongside operational flexibility.
