Thunes explains that sending money across borders often presents significant challenges, particularly due to the lack of transparency around foreign exchange (FX) fees. Thunes noted in a blog post that often, consumers and businesses “don’t know how much local currency they are sending abroad.” Thunes… Read More
My EU Pay, the financial institution that offers frictionless payments and FX to businesses, has partnered with ClearBank, the enabler of real-time clearing and embedded banking for financial institutions, to provide a range of banking services for their clients. My EU Pay will use ClearBank’s… Read More
Quantile and LCH ForexClear, both LSEG Post Trade businesses, announced they have delivered the market’s first FX Smart Clearing service. The service, which went live “on 15th November, enables participants to selectively clear FX Forwards via LCH ForexClear to significantly reduce capital requirements and counterparty… Read More
Nium, a provider of real-time global payments, today announced Nium Global FX, a product it says allows for guaranteed and competitive FX rates. This includes the ability to lock and hold an FX rate for up to 24 hours and settle FX conversions on a… Read More
Airwallex, a global payments and financial platform for modern businesses, announced its partnership with Alpaca, a developer-first API brokerage platform, to support Alpaca’s global payments and foreign exchange (FX) needs. The announcement comes on the heels of several recent Airwallex wins “in the wealthtech category,… Read More
Visa Inc. (NYSE: V) and Currencycloud, the firm simplifying business in a multi-currency world, announces Visa Cross-Border Solutions, formerly known as Visa Treasury as a Service, delivering cross-border money movement solutions for banks, Fintechs, FX brokers, corporates, and other payment institutions. Visa Cross-Border Solutions reportedly… Read More
Koverly, a globally-focused fintech that integrates business-to-business buy now, pay later (BNPL) solutions into a digital payment platform, this week announced the addition of Ben Haddon as its vice president of credit and revenue. Haddon is expected to scale the company’s lending capacity to $70… Read More
Currencycloud, which claims to be the expert in simplifying business in a multi-currency world, have partnered with Australia-based CFD broker GO Markets in order “to streamline and automate client deposits and withdrawals while benefiting from real-time, API-driven competitive FX rates.” By integrating Currencycloud’s APIs, GO… Read More
Citi (NYSE: C), which claims to be a global leader in foreign exchange (FX) markets, has made a strategic investment in Rextie, Peru’s fintech for FX services. The investment makes Rextie Latin America’s first FX fintech “to receive an investment from one of the largest… Read More
DMALINK, the EM-focused institutional FX ECN bolsters its Scandinavian currency presence. The firm revealed that Danske Bank A/S, has “added DMALINK as a platform to provide custom Scandinavian eFX pricing to its buy-side clients. The inclusion of Danske Bank in the DMALINK ecosystem “creates an… Read More
On track to lend $70 million in the next 12 months, global fintech startup Koverly introduces a B2B buy now, pay later platform “with a 30-day, no cost period for foreign exchange payments; company also announces seed funding.” Koverly, a global B2B payments solution “providing… Read More
A report from FX-as-a-Service pioneer, MillTechFX, has revealed that many corporates in North America are looking to diversify their FX counterparties after the recent banking crisis highlighted the potential risks associated with having only one or two banking partners. The report entitled ‘The MillTechFX North… Read More
Capitolis, the technology company reimagining capital markets, announced a significant innovation to its automated novation service in foreign exchange (FX): it can now novate agency trades while maintaining anonymity. This reportedly “unlocks more of the FX options market for novations by including agency flow and… Read More
Nucleus365, a UK-headquartered payment institution providing a centralized platform for international payment processing, FX, and connected banking, has introduced Rapid Transfer payment options for its European merchants. Rapid Transfer enables clients to pay merchants instantly using their online banking details, offering same-day settlements of funds…. Read More
FV Bank, the U.S. licensed global digital bank that offers a vertically-integrated suite of traditional and digital asset banking and custody services to Fintech and blockchain firms, has announced “the launch of their cross-border foreign exchange (FX) payments service for its U.S. and international account… Read More
United Fintech, the end-to-end solution for banking technology, announced the 100 percent acquisition of Cobalt, the provider of critical risk and data services to the FX and digital asset markets. The acquisition elevates United Fintech’s position “as the leading end-to-end solution connecting financial institutions with… Read More
MUFG Bank (NYSE:MUFG) claims it is the “first” Japanese bank to commit to using CLSNet, CLS’s bilateral payment netting calculation service “for over 120 currencies.” MUFG Bank will “join the expanding CLSNet community of global and regional banks, which includes eight of the top ten… Read More
LMAX Group, the operator of institutional exchanges for trading FX and digital assets, is expanding its global technology infrastructure in Asia Pacific “following the launch of a matching engine in the Equinix IBX Data Centre in Singapore (SG1).” SG1, which went live earlier this year,… Read More
Wells Fargo & Company (NYSE: WFC) and HSBC Bank plc announced that the blockchain-based solution they are using for bilateral FX settlements is “expanding to include the offshore yuan (CNH).” The offshore yuan “marks the fifth currency to be settled between the two banks using… Read More
DBS, a Singapore-based financial institution that operates across Asia, has announced that it has utilized permissioned DeFi liquidity pools on a public blockchain to test FX trading and government securities transactions. According to DBS, the first industry pilot included JP Morgan, and SBI Digital Asset… Read More
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