Airwallex, the global payments startup, has crossed the $1 billion mark in assets under management for its money market service, the company shared with Semafor exclusively, and is expanding the service to the US.
Offering a high yield savings product might seem like table stakes in a crowded market but the company believes it has a unique trick up its sleeve: 80 banking licenses across the globe that allow it to move customer money across borders essentially for free.
Airwallex hopes the infrastructure, which took a decade to build, will put it in a good position to capitalize on the AI boom, which is driven by subscriptions and API fees. And as the infrastructure grows, micropayments that cross borders could become part of the fabric that enables “agentic commerce.”
