How Woalet Started (And Why We Actually Care)
Woalet is a payment company founded in Singapore by people who got tired of international banking being broken. We move money across 40+ countries faster and cheaper, with transparent fees and real negotiation.
The Story (The Real One)
Here's the thing about international payments: they're broken. Not like "needs a feature update" broken. Like "fundamentally doesn't work for 21st century business" broken.
Our founders—payment engineers, fintech operators, and international traders—had built payment systems for other companies for years. And every single time, they hit the same wall. Banks are glacial. Startups charge real money or lock you into fixed rates. Crypto has no compliance infrastructure. And nobody was building for Asian businesses in Asia.
In 2022, we got tired of complaining and decided to build it ourselves.
Our First Customer (And Why It Matters)
We started with one customer. A textile exporter in Ho Chi Minh City. She was buying from suppliers in Indonesia, Thailand, and Bangladesh. Selling to buyers in Japan, South Korea, and Europe. Her bank's solution: SWIFT transfers that took 5 days and cost 1.8% in hidden spreads.
We built her same-day transfers with transparent rates. She saved money immediately. More importantly: she sent her supplier network a note that week. "Found something better than my bank."
Fast forward to today, that customer has sent over $5M through Woalet. Her peers told their peers. We grew to 1,000+ customers without advertising because the product works.
What We Actually Believe In
These aren't wall posters. These are the principles that shape every product decision.
Transparency
You should know what you're paying. All of it. The fee. The FX spread. The corner cases. We show you everything before you confirm. High volume? Fees and rates are openly negotiable.
Speed
Cash flow is everything. Five-day SWIFT transfers are five days your money isn't working. Same-day delivery is our default. Stablecoin settlement in minutes when minutes matter.
Trust
Your funds are segregated from ours—even if we went under tomorrow, your money is yours. Auditable trails on everything. Compliance done right.
Real Options
Some businesses want fiat in local currency. Some are ready for stablecoin. Some need escrow protection. We don't force everyone into one box. You choose what fits.
Efficiency
Every dollar saved on payments is a dollar back in your margins. Better rates with bank partners. Crypto infrastructure that beats SWIFT. APIs that integrate easily.
Global Reach
Collect and pay in 190+ countries across 100+ payment corridors. Local bank payouts in 15 currencies without setting up entities abroad—your business stays lean while your reach stays global.
Where We Actually Are
Singapore
Headquarters
Based in Asia's financial hub. Local relationships with regulators. Direct access to the banking infrastructure we partner with.
Southeast Asia
Regional Teams
Teams in Vietnam, Thailand, Indonesia, Philippines, Malaysia, and Bangladesh. They speak the local language—literally and figuratively.
190+ Countries
Global Payouts
Banking relationships across Europe, Africa, Middle East, and Asia-Pacific. Direct settlement. Local currency delivery.
We Take Compliance Seriously
You're sending money. That's regulated business. Here's how we handle it.
Compliance-First Approach: Full AML/KYC verification, transaction monitoring, and sanctions screening on every transfer. We follow the same standards that licensed financial institutions use.
International Compliance: FATCA, CRS, local capital controls—we handle it all.
Banking Partnerships: We work with licensed financial institutions and regulated banking partners across multiple jurisdictions to ensure secure payment processing.
Annual Audits: Full compliance audits. Penetration testing. Transaction records available 24/7 for your reporting.
Segregated Accounts: Your money isn't our money. Even in catastrophic scenarios, you get your funds back.
Frequently Asked Questions
Want to Actually Meet?
We're not mysterious. Reach out, ask questions. Understand what we do and don't do. A real conversation with a real person.