After Reaching 7 Million Users in the Philippines, Skyro Launches Transparent Cash Loans in Malaysia
- Written by: Telegraph Magazine
The company is starting with digital cash loans and hopes to expand its offering by introducing a product with an approved credit limit, potentially before the end of 2026.
Skyro has operated in the Philippines since 2022, building a registered user base of more than 7 million and an active loan portfolio exceeding US$200 million. In September 2026, the company announced that it had secured approval from Malaysia's Ministry of Housing and Local Government (KPKT) to provide online moneylending services. Malaysia is Skyro's second market in Southeast Asia.
Skyro's first Malaysian product offers new customers cash loans of up to RM1,000 (approximately US$250), with repayment terms of up to four months. The company plans to gradually increase borrowing limits for eligible customers, potentially reaching RM10,000 (approximately US$2,500), as it builds its local lending portfolio.
The application process takes place entirely in the Skyro mobile app, without requiring a branch visit. Malaysian citizens with a valid MyKad and regular income can apply by verifying their identity and providing supporting income documents. Skyro assesses each application individually, taking into account the applicant's income, existing financial commitments and credit history. Most applicants receive a decision within minutes, with approved funds transferred directly to their bank accounts.
Transparency is a central feature of the new product. Before signing the loan agreement, customers can review their approved loan amount, monthly installments, applicable fees and total repayment obligation, based on a fixed interest rate of 1.5% per month.
Arsen Liametov, co-founder and co-CEO of Skyro, said:
"For many people, financial needs don't always arise at a convenient time. Whether someone needs to pay for home repairs or an unexpected expense, we want Malaysians to have another option to consider when they need short-term financing. But making credit available is only one part of our service. It's equally important that customers understand what they're borrowing, what it will cost and how they'll repay it before making that decision."
As its Malaysian business evolves, Skyro hopes to introduce a product with an approved credit limit by the end of 2026 that would enable customers to apply for subsequent loans more easily once they have established a repayment record with the lender. Skyro will use insights from its initial cash-loan offering to adapt future products to Malaysian consumers' needs and borrowing habits as it works towards building a financial ecosystem.
The launch comes as Malaysia steps up efforts to tackle illegal moneylending, including unlicensed Ah Long lenders and fraudulent loan apps. For consumers with limited access to traditional bank credit, licensed digital cash loans and revolving credit lines can provide a safer, more transparent alternative, combining convenient access to financing with clear repayment terms and responsible lending practices.
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About Skyro
Skyro is a high-growth, digital-first fintech group delivering scalable, responsible financial access across high-potential emerging markets. Launched in the Philippines in 2022, the group now has more than 7 million registered users and a credit portfolio exceeding US$200 million.
Powered by proprietary data science, AI-driven credit decisioning and alternative-data scoring, Skyro combines a mobile-native experience with modular fintech architecture to serve underserved customer segments at scale.
Founded by Arsen Liametov and Nasim Aliev through a management buyout, Skyro is financed through a balanced combination of private capital, debt facilities and strategic equity investment from GCC-based investors. The company is expanding into new markets as it seeks to build a diversified financial services business across emerging economies.
