Zenus Bank acquires real-time payments FinTech FUEX Payments

By Gloria Methri

Zenus Bank, the digital bank that makes U.S. bank accounts available internationally, has announced the acquisition of Financial Urban Exchange LLC. Also known as FUEX Payments, the FinTech streamlines real-time payments for the Caribbean and Latin American (LAC) markets.

This acquisition represents Zenus Bank’s strategy to innovate and expand its service offering in the FinTech industry and its focus on delivering cutting-edge financial solutions to its customers.

FUEX Payments has developed  API solutions that enable real-time payments through major global payment card brands for businesses, governments, and financial institutions.

The acquisition will enable Zenus Bank to expand its offerings in the Caribbean and LAC markets. FUEX Payments’ technology and the bank’s expertise in financial services will create a platform that will enable businesses, and individuals to transact more efficiently and securely anywhere in the world.

“FUEX Payments has been at the forefront of the FinTech revolution in the Caribbean and LAC markets, and we are thrilled to have them join the Zenus Bank family,” said Mushegh Tovmasyan, Founder, and Chairman of Zenus Bank. “This acquisition will enhance our capabilities and enable us to deliver even more innovative solutions to our customers, further strengthening our position as a leader in the FinTech industry.”

Candido Alfonso, co-founder and CEO of FUEX Payments, said, “We are excited to join forces with Zenus Bank, a company that shares our vision for providing cutting-edge financial solutions to customers. This acquisition will allow us to leverage Zenus Bank’s expertise and resources to accelerate the growth of our real-time payments solutions in the Caribbean and LAC markets in the real-time transactions and Payments-as-a-Service markets.”