Airwallex Yield tops USD $1bn as treasury product expands

Airwallex's Yield treasury product has surpassed USD $1 billion in global assets under administration, as the company rolls the service out to the US market.

First launched in Australia, Yield is also available in Europe, Hong Kong, Singapore and New Zealand. Airwallex said the milestone points to growing demand from businesses seeking returns on cash held for day-to-day operations.

Yield sits within Airwallex's broader platform, which combines multi-currency accounts with payments and spend tools. It is aimed at businesses holding funds in Airwallex cash balances that want a short-term investment option without using a separate bank account.

How it works

Customers can move funds from Airwallex cash balances into a money market fund managed by J.P. Morgan Asset Management. Airwallex said the fund is AAA-rated. Customers can move money back into cash balances, with funds generally settling within two business days.

Airwallex said the service offers returns on both local-currency and US-dollar balances. It also said customers can access returns without opening an overseas bank account, a feature it has highlighted since the initial Australian launch.

The US launch adds a major market as Airwallex expands beyond payments into financial services. The company has built its brand on cross-border payments and multi-currency accounts for internationally focused businesses. Treasury products move it closer to cash management and working capital decisions, which have become a sharper focus for many firms amid higher interest rates and tighter cost control.

SME demand

Airwallex said small and medium-sized enterprises have driven much of Yield's growth, defining the segment as businesses with less than USD $10 million in annual revenue.

It said many customers treat Yield as a "set and forget" account, similar to how firms use savings accounts-parking cash for short periods while keeping it accessible.

Airwallex said most funds placed in Yield are held in US dollars, linking the trend to companies seeking protection against local-currency volatility and broader macroeconomic uncertainty. The comment reflects a common pattern among importers, exporters and digital businesses that earn or spend in dollars, even when operating outside the US.

Platform integration

Airwallex said Yield connects with its payments and expense products through a single dashboard. Customers can move funds between payments, payouts, corporate cards and Yield accounts within the platform, and can sync Yield balances with Xero for reconciliation.

The company said the design reduces the administrative burden of moving money across providers. It also positions Airwallex against traditional banks, which typically separate current accounts, savings products and cash investment offerings across distinct systems and processes.

James Teodorini, Head of ANZ at Airwallex, linked the USD $1 billion milestone to changing behaviour among Australian businesses.

"Topping $1 billion isn't just a milestone for Airwallex - it reflects a broader shift in how Australian businesses are managing capital," Teodorini said.

Airwallex was founded in Melbourne in 2015 and is co-headquartered in San Francisco and Singapore. The company said it has more than 2,000 employees across 26 offices and serves more than 200,000 companies worldwide.

Airwallex also said it holds 80 licences across North America, Europe, the Middle East and Asia-Pacific. Its products include payment acceptance, billing, global accounts, corporate cards and spend management. Yield will continue to expand across markets where Airwallex has regulatory coverage and customer demand, the company said.