back Back

Currencycloud and CrescoFin to offer FX and multi-currency ewallet

By Megha Bhattacharya

April 14, 2021

  • America
  • Currencycloud
Share

Currencycloud logoCurrencycloud and Swiss digital banking alternative CrescoFin to integrate its multi-currency account infrastructure Currencycloud Spark into the latter’s expanded offering. The integration of Currencycloud Spark will allow CrescoFin to accept up to 30 currencies and clients will be able to pay, collect and hold multiple currency accounts under one unique SWIFT IBAN, allowing seamless, simple access to CrescoFin’s core product, globally.

Robert Sharratt, Managing Director and Co-founder of CrescoFin, commented, “We are delighted to be including Currencycloud into our offering. We can now welcome clients from around the world, seamlessly, in multiple currencies. In addition, we will be able to execute forward FX transactions in-house, to offer better rates to our global customers.”

According to Currencycloud, customers will be able to convert at a time that suits them, rather than being forced to convert at the point of sale or purchase, avoiding costly FX charges and converting when the market suits them. CrescoFin has developed a solution for institutions and individuals to achieve low-risk, insured returns without a long lock-up period. Funds can be redeemed with 30 days’ notice. The CINAP (CrescoFin INsured Asset Purchase) offers a return of 3% pa in USD.

Nick Cheetham, Chief Revenue Officer at Currencycloud, commented, “CrescoFin has introduced a new and novel way for individuals and institutions to generate a better return on deposits than a traditional bank would offer its customers. Currencycloud is fundamental to CrescoFin being able to expand its offering to new markets and we look forward to supporting their growth.”

Recently, European mobile payments provider Settle Group has teamed up with Currencycloud for adding foreign exchange and cross-border payments for its invoice financing and factoring customers across Europe. The partnership also enables Settle to expand its payment network, by enabling local payouts in markets where Settle is not locally connected through its own bank partnerships.

Previous Article

April 14, 2021

JULO upgrades digital credit limit to 15 million Rupiah for Indonesians

Read More
Next Article

April 14, 2021

Equifax in partnership with Urjanet introduces Payment Insights

Read More








IBSi Daily News Analysis

Generative AI

April 12, 2024

America

Security experts sound the alarm on Deepfake threats in the age of AI

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

April 12, 2024

Navy Federal Credit Union expands partnership with Backbase

Read More

April 12, 2024

FinTech Focus: Catch latest developments of the week

Read More

April 12, 2024

N26 launches Joint Accounts to help customers to manage shared finances

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023