WorldFirst, a cross-border payments platform owned by Ant Group, has officially launched its services in Thailand, marking an expansion of its operations in Southeast Asia. Founded in London in 2004 and acquired by Ant Group in 2019, the company specializes in multi-currency accounts and international transfers for small and medium-sized enterprises (SMEs) engaged in global trade. Its platform enables businesses to make international payments, receive funds in multiple currencies, and access global marketplaces.
The launch was announced in Bangkok, where WorldFirst executives introduced the company’s services to local partners. Clara Shi, Chief Executive Officer of WorldFirst, stated that the entry into Thailand represents a long-term commitment to supporting the country’s growing digital economy. She noted that Thailand’s role as a regional e-commerce hub makes it a strategic location for expansion and that the company aims to equip local SMEs with fast, secure, and convenient financial tools to facilitate global growth.
WorldFirst’s launch follows a memorandum of understanding signed last year between Ant Group and Asset World Corp (AWC), one of Thailand’s leading real estate and retail developers. Under the agreement, WorldFirst’s World Account service is being integrated into AWC’s PhenixBox e-commerce platform, allowing local buyers to pay in Thai baht while sellers receive funds in major global currencies.
Analysts note that WorldFirst’s entry into Thailand reflects rising demand among SMEs for efficient and cost-effective cross-border payment solutions amid growing competition between fintech companies and traditional banks.
(Source: The Digital Banker)
