Airwallex has received a Markets in Financial Instruments Directive (MiFID) license from the Dutch financial regulator (AFM), enabling the fintech platform to launch its innovative Yield product in the Netherlands. This milestone allows Airwallex to offer Money Market Funds (MMFs) to European small and medium-sized businesses, enabling them to earn returns on idle cash without the limitations of traditional banking products.
Businesses will be able to manage multi-currency balances—including euros, pounds, and U.S. dollars—within their Airwallex accounts, all consolidated under one platform. Yield stands out for offering flexible access: there are no lock-up periods or term deposits, so funds can be shifted between cash balances and investments at any time.
This regulatory green light comes on the heels of remarkable growth in the Netherlands. Airwallex reported a 199% year-over-year revenue increase, driven by a tripling of its customer base, key product launches like Dutch IBANs and Exact Online integration, as well as significant hires across compliance and risk management.
Shannon Scott, SVP and Global Head of Product, noted that the MiFID approval brings the company closer to empowering European businesses to make their idle funds work harder. Laurens Maartens, Executive Director of Yield, emphasized that the approval underscores Airwallex’s commitment to regulatory compliance and financial innovation.
With the rollout of Yield in the Netherlands, Airwallex continues expanding its global financial services footprint—following successful deployments in Asia and beyond.
Source: Airwallex
