Report
M-Daq’s 2025 revenue fell 32% as enterprise GTV grew 2.6x
Tech in Asia reports that M-Daq’s losses grew, even as institutional FX revenue more than doubled in 2025.
TLDR
Tech in Asia reports that M-Daq’s 2025 revenue fell 32% to $30.2 million and its losses grew, while enterprise GTV rose 2.6x and institutional FX revenue more than doubled. First-half 2026 GTV reached 1.7x the total for 2025. The firm is betting on bigger clients, higher-value FX services and regional expansion to restore growth.
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