Airwalles, a leading global payments and financial platform for growing businesses, has signed definitive agreements to acquire CTIN Pay, an Intermediary Payment Service (IPS) company licensed in Vietnam.

The acquisition expands Airwallex’s existing licences across major Asia-Pacific (APAC) markets, including Australia, Singapore, Hong Kong (China), Malaysia, New Zealand, mainland China, and Japan.

This move deepens the global reach of Airwallex’s financial infrastructure, aiding Vietnamese merchants in their overseas expansion, and facilitating international businesses to enter the Vietnamese market, according to Airwallex’s recent press release.

Vietnam’s economy, with its strong growth and rapid digital transformation, is well positioned as a strategic growth market for Airwallex in the region, it said in the press release. By expanding its financial infrastructure across Southeast Asia, Airwallex is well-positioned to support businesses in Vietnam, enabling them to scale internationally with greater ease.