Airwallex last week revealed that it had a directive license for financial tools (MIFID) from the Dutch Financial Markets Authority (AFM), which paves the way for the launch of its return product in the Netherlands.
The global financial platform said that the new license will enable it to provide the MMFS funds to European companies, which provides small and medium -sized institutions with investment opportunities that are not usually available through traditional banks.
The return on companies will allow the generation of revenue on dormant cash balances in multiple currencies, including the euro, the pound and the US dollar, while maintaining full access to their money.
They added that companies will be able to transfer money between cash and return accounts at any time, without periods of imprisonment or restrictions in the range.
“Receiving our MIFID license is the first step to launch the return in the Netherlands and will approach us one step from providing European companies in a more intelligent way to make their money work harder,” said Shannon Scott, SVP and Global Product Head at Airwallex.
This step follows a strong momentum for Airwallex in the Netherlands, as the company has reported a 199 % annual growth, with the support of the high number of customers and the launch of new products and higher employees.
“Obtaining our AFM’s MIFID license is a testimony for our dedicated efforts and close cooperation with Dutch organizers,” said Lorenz Martins, CEO of Airwallex, said.
Airwallex said that the return will provide competitive returns to companies, in some cases more than twice that of traditional banks, as well as operational flexibility.