Kuala Lumpur, Malaysia – Digital finance company Skyro has launched its first lending product in Malaysia, offering digital cash loans of up to RM1,000 as it expands beyond the Philippines into its second Southeast Asian market.
The launch follows the company’s expansion in the Philippines, where it has operated since 2022 and built a registered user base of more than seven million. Skyro also reported an active loan portfolio exceeding US$200 million and said it reached operational break-even in the country just over three years after entering the market.
In September 2026, the company received approval from Malaysia’s Ministry of Housing and Local Government (KPKT) to provide online moneylending services.
The initial Malaysian offering provides new customers with loans of up to RM1,000 (approximately US250), with repayment periods of up to four months. Skyro plans to gradually increase borrowing limits for eligible customers, potentially reaching RM10,000 (approximately US$ 2,500), as its local loan portfolio develops.
Applications are processed through the Skyro mobile app, without requiring customers to visit a branch. Malaysian citizens with a valid MyKad and regular income can apply by completing identity verification and submitting supporting income documents.
Each application is assessed individually based on 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.
The company said customers can review their approved loan amount, monthly instalments, applicable fees and total repayment obligation before signing an agreement. The loans carry a fixed interest rate of 1.5 per cent per month.
“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,” said Arsen Liametov, Co-founder and Co-CEO of Skyro.
“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,” Liametov continued.
Plans for further lending products
Skyro is considering introducing a product with an approved credit limit by the end of 2026. This would allow customers with an established repayment record to apply for subsequent loans more easily.
The company plans to use insights from its initial cash-loan offering to adapt future products to local consumer needs and borrowing patterns as it develops its financial services portfolio in Malaysia.
The launch comes amid efforts in Malaysia to address illegal moneylending, including unlicensed lenders and fraudulent loan applications. Licensed digital lending services are among the options available to consumers seeking alternatives to traditional bank credit, although borrowers still need to assess interest rates, fees and repayment obligations before taking out loans.
