Currencycloud Licensed in Australia to Offer Multi-Currency Payments, Digital Wallet

Currencycloud, a payments and transfer Fintech based in London, has received a license to operate in Australia granted by the Australian Securities and Investments Commission (ASIC). Currencycloud said it may now offer its “full suite” of services to Australian clients.

This past January in advance of receipt of the Australian Financial Services (AFS) license, Currencycloud hired Nick Briscoe as Country Manager, Australia. Prior to being approved for an AFS, Currencloud has been limited to international payments in Australia. With the approval, Currencycloud will be able to provide customers with collections, management services, and Currencycloud’s multi-currency digital wallet called “Currencycloud Spark.” This allows users to hold 30+ currencies.

Briscoe said the Fintech landscape in Australia is “incredibly vibrant and highly sophisticated:”

“Gaining our Australian licence puts us in a great position to support our existing Australian clients and their ambitions, as well as work with other businesses across the country.”

Alex Prater, CEO for FX Corp, a Currencycloud client in Australia, said the expansion of Currencycloud’s offering has allowed them to augment the range of currency capabilities it provides to clients:

“Add to this a user-friendly interface and the ability to easily track cross-border payments, and Currencycloud offers a compelling value proposition which has assisted FX Corp to offer a more complete range of services to its growing client base.”

Since 2012, Currencycloud has processed more than $100 billion to over 180 countries, working with banks, financial institutions, and Fintechs around the world, including Starling Bank, Revolut, Penta, and Lunar.

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