Tagged: fx

Cloud enabled Clearing Bank ClearBank Introduces Multi-Currency Solution for Fintechs

ClearBank, the Cloud-powered clearing bank, has announced the launch of a multi-currency solution that will aim to lower the friction for Fintech firms and financial institutions that provide cross-border payments and FX capabilities. ClearBank’s API-driven tech and Banking-as-a-Service (BaaS) capabilities have created seamless payment solutions… Read More

Consumer Sentiment about State of UK Economy Echoes CFO Perceptions of External Uncertainty, Dropping Below 5 Yr Avg: Report

The team at UK-based Blend Network, a peer-to-peer lending platform, notes that the prospects of the United Kingdom’s macroeconomic environment are “becoming gradually more positive.” Blend Network writes in a blog post that the improvement is “reflected, among other factors, in job openings at a… Read More

Real Estate Report: UK Property Prices Surge 13.4% YoY, the Largest Increase in 17+ Years

The team at UK-based P2P lender Blend Network notes that the Covid-19 pandemic may be subsiding, however, the “new normal” may not look the same as 2019. As noted by Blend Network, market participants are increasingly concerned about inflation, especially during recent months. The P2P… Read More

Financial Market Infrastructure Provider CLS Welcomes Updates to FX Global Code

CLS, a financial market infrastructure service offering settlement, processing and data solutions across the international foreign exchange (FX) ecosystem, has welcomed updates to the FX Global Code – which aim to place more emphasis on the use of payment-versus-payment (PvP) settlement mechanisms where accessible, while… Read More

Real Estate: UK Housing Prices Up 10.9% YoY in May 2021, the Largest Increase Since Aug 2014, New Report Reveals

The team at UK-based Blend Network, a peer-to-peer lending platform, notes that recent market developments in the United Kingdom have seen investors preparing for expected growth and may also want to watch out for inflation. As mentioned by Blend Network, headlines and concerns regarding inflation… Read More

TruNarrative Chooses Rational Group to Enhance its Customer Onboarding and ID Verification Processes

TruNarrative has reportedly been selected by the Rational Group, which is home to FX and payment firms RationalFX and Xendpay. TruNarrative has been chosen by Rational Group to enhance its customer onboarding and identity verification processes while offering a user-friendly experience. Launched in 2005, RationalFX… Read More

Peer to Peer DeFi Payment Protocol Roxe Goes Live, Will Offer Competitive Wholesale FX Rates

Roxe, a global payment network, revealed on Friday (June 11, 2021) that it has officially launched  the Roxe Payment Protocol (RPP), which is described as an open, decentralized and peer-to-peer payments protocol developed to offer wholesale foreign exchange rates to individuals, payment firms, banking institutions… Read More

Revolut Business to Offer Currency Forward Contracts or FX Forwards in the UK

Revolut Business revealed on Friday (May 21, 2021) that it’s introducing currency forward contracts (FX Forwards) in the United Kingdom. Revolut Business’ FX Forwards will allow firms of any size – from large corporates to single-person businesses – to set future exchange rates via an… Read More

UK Fintech VitraCash Secures £330,000 via CrowdCube with Nearly 1,000 Investors, Initial Product Launch Expected in Summer 2021

UK-based Fintech firm VitraCash recently finalized its pre-seed funding round with £330,000 in capital coming from nearly 1,000 different investors. The company is now planning to introduce its “first-of-its-kind” smart debit card during Q3 2021. As mentioned in an update shared with CI: “With their… Read More

Barclays Announces New FX Products Suite

  Barclays announced on Thursday the launch of a suite of new products for BARX FX, which further enhances its electronic capabilities and strengthens its FX offerings for clients. The suite of new products marks the banking group’s latest milestone in enhancing its electronic trading… Read More

China CITIC Bank International to Use Refinitiv Electronic Trading Platform to Streamline FX Workflow

Refinitiv, one of the largest providers of financial markets data and infrastructure, has revealed that China CITIC Bank International will be using the Refinitiv Electronic Trading platform to streamline its foreign exchange (FX) trading and distribution workflow. Banks and other financial service providers are looking… Read More

B2B Payments Hub, Qolo, Partners with Cross-Border Payments Provider, moneycorp, to Launch FX Payment Solution

Qolo, which aims to serve as the B2B payments hub for the “New Economy,” and moneycorp, a foreign exchange and cross-border payments provider, recently announced the launch of an integrated foreign exchange (FX) payment solution. As noted in a release shared with CI: “Global businesses,… Read More

South Korean Fintech Breakthrough: Apps to Access Decentralized Foreign Exchange Rates Compiled by Local Banks via Chainlink Integration

CenterPrime, a private Hyperledger based blockchain platform with access to the South Korean Open Banking API, is now sharing foreign exchange (FX) rate data from large Korean banks to Chainlink’s decentralized oracle network. Participating banks include Hana Bank, Shinhan Bank, Nonghyup Bank, and Industrial Bank… Read More

Vanguard Uses Blockchain to Speed Up FX Forward Contracts

Vanguard, one of the world’s largest investment management firms with $5.9 trillion in global assets, is testing blockchain tech to improve and accelerate foreign exchange (FX) forward contracts. According to a release, Vanguard has partnered with Symbiont, Bankof New York Mellon, State Street, and Franklin… Read More

Fintech Spark Systems Raises S$ 15 Million

  Singapore based Fintech Spark Systems has closed on a “Series BB” funding round raising S$15m (USD $10.5m). The funding comes from Citi and HSBC as well as OSK Ventures. They will join the existing investor base including; Vickers Venture, Dymon Asia Ventures, Dymon Asia… Read More

Rapyd Set To Waive FX and Processing Fees in an Effort to Help Consumers Receiving Payments During COVID-19 Pandemic

Rapyd, a global B2B Fintech as a Service provider, announced on Thursday it has launched a new initiative, the Rapyd Social Responsibility and will be waiving foreign exchange and processing fees on the first $100,000 in total processing volume for new businesses in the U.S., Brazil, and Mexico that… Read More

Digital Bank Neo Receives Regulatory Approval from Bank of Spain to Offer Multi Currency Accounts

Digital  bank Neo has received regulatory approval from the Bank of Spain to launch a corporate multi-currency account. According to a release from the company, Neo will now create a PSD2 payment institution which will be supervised by the Bank of Spain. The Barcelona-based company, with… Read More

FX Enabler Koku Raises $2 Million in Pre-Series A

Singapore-based Fintech Koku has raised $2 million in a pre-series A round backed by Jason Zeng, co-founder of Tencent Holdings and founder of Chinese angel investment company Decent Capital. Kokue said it expects to raise USD $10 million in a series A round during the… Read More

CurrencyVue, an FX Management Platform, Partners with AFEX

Currency solutions platform, CurrencyVue has launched an integrated FX risk management platform in partnership with global payments and risk management provider AFEX. CurrencyVue helps businesses with international payments and FX hedging. Rather than focusing on the speed or cost of making transactions, CurrencyVue has taken… Read More

UK Distributed Ledger Tech Platform Cobalt Celebrates Milestones, Expands Team & Opens US Office

Cobalt, the FX post-trade processing network based on distributed ledger technology, today announced that Citadel Securities, a global market-maker across FX, fixed income, equities, ETFs and options, and XTX Markets, a leading quantitative-driven electronic market-maker, have signed up as Cobalt launch participants. Cobalt’s FX solution, set… Read More

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