What is Wallex? Wallex Review

introduce

Wallex offers a range of online cash management solutions, including virtual accounts (for collection and payment), multi-currency wallets, foreign exchange conversions, cross-border payments, and an API with real-time foreign exchange execution capabilities. Wallex provides exchange rates for more than 40 global currencies (including the rupiah and the Thai baht) for more than 180 countries. It charges a minimum fee of $6.85 per transfer. In Indonesia, Wallex said it has received a variety of small and medium-sized enterprise customers mainly engaged in import business, and provides services to individuals to help them pay for overseas tuition.

Development History

In November 2018, Wallex Technologies announced that it had obtained a money transfer license from Bank Indonesia and a remittance license from the Monetary Authority of Singapore (MAS), and is now officially launched in Indonesia.

Financing

In November 2018, Wallex Technologies completed its Pre-A round of financing, with the specific amount of funds not yet disclosed. This round of financing was led by BEENEXT, followed by Central Capital Ventura and Indonusa Dwitama. The new funds will be mainly used for the company's business development and local market expansion.