Wallex Names Andrew Marchen as Co-founder, Finalises Merger With M-DAQ

Wallex Names Andrew Marchen as Co-founder, Finalises Merger With M-DAQ

by August 10, 2022

Wallex, a B2B FX and cross-border payment platform, announced that it has named its current Chief Technology Officer Andrew Marchen as its Co-founder.

Andrew who has been Wallex’s CTO since 2019 will join former COO and current CEO Hiro Kiga as a Co-founder.

With over 20 years of experience in the tech industry, Andrew Marchen joined Wallex early in its journey to lead the tech and product team to build a FX solution for small-medium businesses in Asia.

Since its operations, Wallex said it has moved over US$6.13 billion and helped businesses with over 180,000 overseas transactions.

This announcement comes after the merger of Wallex and M-DAQ, a platform that prices and trades exchange-traded products in a multitude of currencies, which was first announced this February, officially became complete.

According to Wallex, the new appointments and completion of the acquisition will enable the wider company to reach businesses across all industries and sizes in Singapore, Indonesia and Greater China.

Hiro Kiga

Hiro Kiga

Hiro Kiga, Co-founder and CEO of Wallex said,

“I am thrilled to have Andrew onboard with me as Co-founder. He has been an integral part of Wallex from our early days to Series A to acquisition.


I give my full trust in Andrew on enhancing the core technology to drive product initiatives to help scale the business further. We look forward to having him take on a bigger role as we aim for higher growth.”

Andrew Marchen

Andrew Marchen

Andrew Marchen, Co-founder and CTO of Wallex said,

“We are steadfast in our belief to build a product that is customer-oriented, where our services are tailored to our customer’s needs, not our own wants.


There will always be new threats and we can never be complacent.”



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