Philippine fintech firm Skyro secures Malaysia lending license
Philippine-based fintech company Skyro has obtained a moneylender's license from Malaysia's Ministry of Housing and Local Government. This allows the digital lending firm to offer online cash loans in Malaysia, its second Southeast Asian market.
Skyro, a consumer finance group specializing in digital lending in the Philippines, announced on September 29 that its Malaysian entity has received a moneylender’s license from the Malaysian Ministry of Housing and Local Government. The license permits Skyro to commence online moneylending and launch cash loan services in Malaysia.
This expansion marks Malaysia as Skyro's second market in Southeast Asia, following its home base in the Philippines. The company, founded in 2022, has previously disbursed over $600 million in loans and registered more than 7 million users.
In Malaysia, moneylending licenses are issued by the Ministry of Housing and Local Government under the Moneylenders Act 1951. The expansion coincides with Malaysia's introduction of the Consumer Credit Act 2025, which aims to establish a regulatory framework for non-bank credit providers and a new Consumer Credit Oversight Board.
Skyro reported achieving operating break-even in the first half of 2026 and has expressed intentions to expand into other international markets, including Saudi Arabia. The new Malaysian regulatory environment will require existing providers, including those under the Moneylenders Act, to obtain licensing or registration under the new regime.