M-DAQ Completes Acquisition of Wallex

M-DAQ Purchases Wallex with the Intention of Growing Worldwide
One of the leading fintech firms in Singapore, M-DAQ, has declared the Wallex acquisition to be finalised. The most recent acquisition was dubbed a “important milestone” by the corporation.
Approximately six months have passed since M-DAQ first made public its intention to purchase Wallex. By means of the acquisition, M-DAQ intends to enhance its worldwide reach.
Having licences in Singapore, Indonesia, and Hong Kong, Wallex is a reputable provider of cross-border payments. The business operates widely throughout the Asian region.
“With immediate effect, Wallex is now a part of M-DAQ World, as we are happy to announce. As the first of many steps towards growing our ecosystem, this synergy is an extremely exciting milestone for us. As a cohesive team, we’ll work to provide our clients with more value everywhere,” M-DAQ stated in a formal LinkedIn post.
Inter-Border Transfers
Over the past few years, there has been a notable increase in the general demand for straightforward cross-border payments. Aladdin, the premier FX solution from M-DAQ, has already completed cross-border transactions worth billions of dollars.
Additionally, M-DAQ is making investments to develop an ecosystem that supports its main FX business. In this case, Wallex will receive the required liquidity to operate its core payments business from M-DAQ, which will act as the upstream FX provider. Richard Koh, the founder and group CEO of M-DAQ, said, “This business model is an ecosystem of services that complement each other, reduce duplication, increase efficiency, and ultimately lower transaction costs for the end customers as economies of scale are realised.”

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