Skyro launches Malaysian cash loans after securing a licence

By Grace Kim

Skyro began offering cash loans to Malaysian customers of up to MYR1,000 ($250) after receiving a moneylender’s licence from the Ministry of Housing and Local Government in September 2026.

The digital consumer finance group called Malaysia its second Southeast Asian market. Its first Malaysian product offers repayment terms of up to four months. Skyro plans to raise borrowing limits gradually for eligible customers, potentially to MYR10,000.

Skyro disclosed the launch in a Thursday statement. For now, the MYR1,000 ceiling applies to new customers, while higher limits depend on eligibility and Skyro’s staged increases.

Why is Skyro expanding after the Philippines?

The Malaysian launch follows Skyro’s operating break-even in the Philippines in the first half of 2026. Skyro has operated in the Philippines since 2022. The company reported more than 7 million registered users and an active loan portfolio of more than $200 million.

Skyro cited the Philippine milestone as the foundation for its expansion. Its first Southeast Asian market now supplies the operating record behind the move.

In short, Skyro is taking a business that reached break-even in the Philippines into its second Southeast Asian market.

How does Skyro assess Malaysian applicants?

• Eligibility: Skyro requires applicants to be Malaysian citizens with a valid MyKad and regular income.
• Application: Applicants submit the request in the Skyro app, verify their identity and provide income documents.
• Underwriting: Skyro assesses every application individually, weighing income, existing financial commitments and credit history.
• Decision and funding: Most applicants receive a decision within minutes, and Skyro transfers approved funds to their bank accounts.

Skyro said it uses AI-driven scoring and alternative data, including online purchase history and in-app behaviour, to assess applicants without a formal credit history. The company said it offers its products through more than 3,000 merchants and about 10,000 retail locations.

In short, Skyro says app data can support quick credit decisions for borrowers without conventional credit records.

What does the licensing backdrop mean for Skyro?

Skyro said Malaysia is tightening its response to illegal moneylending, including unlicensed Ah Long lenders and fraudulent loan apps. Against that backdrop, the company says licensed digital cash loans and revolving credit lines can offer a safer, more transparent alternative for people with limited access to bank credit.

The initial Malaysian offer is for cash loans. Skyro cited revolving credit lines as part of its wider argument for licensed digital credit.

Arsen Liametov, co-founder and co-CEO of Skyro, said: “People’s financial needs do not always arise at convenient times.” The company wants Malaysians to have another option for short-term financing. Liametov also said: “Understanding costs and repayment is as important as access to credit.”

For Skyro, licensing is the core of its argument that digital lenders can be safer than unlicensed operators.

What comes next in Malaysia?

Skyro’s first phase gives new Malaysian customers access to up to MYR1,000 for terms of up to four months. Its next stated step is gradual increases for eligible customers, potentially to MYR10,000. Skyro requires applicants to meet the citizenship, identity and regular-income conditions.

Skyro’s Philippine operation provides the company’s operating benchmark: it reached break-even in the first half of 2026 after operating in that market since 2022. Future updates on Malaysian customer growth and higher limits will show how quickly the second Southeast Asian market develops.

The near-term test is whether qualifying borrowers can move toward MYR10,000 without slowing the process in which most applicants receive a decision within minutes.