Skyro launches first lending product in Malaysia

Digital finance group Skyro has launched its first lending product in Malaysia, introducing digital cash loans as it expands beyond its Philippine home market.

The initial offering allows new customers to borrow up to RM1,000 (US$250), with repayment periods of up to four months. Skyro plans to gradually raise borrowing limits for eligible customers as it builds its local loan portfolio.

The launch follows Skyro securing approval from Malaysia's ministry of housing and local government (KPKT) in September 2026 to provide online moneylending services. Malaysia marks the group's second market in Southeast Asia, following its launch in the Philippines in 2022.

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The application process is fully digital and takes place through the Skyro mobile app, eliminating the need for customers to visit a physical branch. Malaysian citizens with a valid MyKad and regular income can apply by verifying their identity and submitting supporting income documents.

The company said transparency is central to the offering. Before signing a loan agreement, customers can review the approved amount, monthly instalments, applicable fees and total repayment obligation. The product carries a fixed interest rate of 1.5% per month.

"For many people, financial needs don't always arrive at a convenient time. Whether it's a home repair 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 it. 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," said Arsen Liametov, co-founder and co-CEO of Skyro.

Looking ahead, Skyro hopes to introduce a set credit limit in Malaysia by the end of 2026. The feature would allow customers who have established a repayment record with the lender to apply for subsequent loans more easily.

The company said it would use insights from its initial cash-loan offering to adapt its products to local consumer needs and borrowing habits, as it works towards building a broader financial services ecosystem in the market.

Skyro's expansion comes as Malaysia steps up efforts to tackle illegal moneylending, including loan sharks, commonly known as Ah Long, and fraudulent loan applications. The company positions its licensed digital lending services as an alternative for consumers who may have limited access to traditional bank credit, with an emphasis on transparent pricing and repayment terms.

Since launching in the Philippines, Skyro has built a registered user base of more than seven million and an active loan portfolio exceeding US$200 million. The company also reached operational break-even in the market just over three years after its launch.

Founded by Liametov and Nasim Aliev through a management buyout, Skyro is financed through private capital, debt facilities and strategic equity investment from GCC-based investors.

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