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Opal

“Can a Singapore MPI-licensed neobank become the primary financial OS for APAC SMEs needing seamless cross-border payments, multi-currency accounts, and embedded trade finance?”

Founded2019
HQSingapore
FoundersZvi Appel (Co-founder and CEO)
IndustryFintech / Neobank
The story

Founded in 2019 as a Singapore-based neobank targeting SMEs, Opal obtained a Major Payment Institution license from MAS and built its core proposition around international payments and cross-border banking. In February 2022, it launched its Global Digital Business Account — a multi-currency wallet supporting 34 currencies and 100+ corridors — using Currencycloud as the FX/cross-border infrastructure layer. Opal has since expanded into embedded lending with BNPL credit lines and business loan products, positioning itself as a one-stop financial platform ('one global account, all your business financial needs') for APAC-focused SMEs.

Last 12 months
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Product timeline
2019
Founded in Singapore as a neobank targeting SMEs for cross-border payments and international banking.· banking
2022
Launched flagship Global Digital Business Account in February 2022, enabling SMEs to hold up to 34 currencies and transact across 100+ corridors, powered in part by Currencycloud APIs.· banking
2022
Introduced Buy Now Pay Later (BNPL) for business, offering pre-approved credit lines up to $100,000 for international vendor and supplier payments.· lending
Regulated entities
Major Payment Institution (MPI)
Singapore (MAS)
OPAL
The stack
Lending
Buy Now Pay Later for Business (credit lines up to $100,000, 30-day repayment)Micro Loans (S$3,000–S$100,000, <24hr approval)Business Term Loans / Working Capital Loans ($50,000+)
FX & payouts
Currencycloud
Accounting gap: significant